Harshad Vilas Satav v. Janata Sahakari Bank Ltd. And ORS

2024:BHC-AS:24128-DB

911. WP 8311-24.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.8311 OF 2024 HARSHAD VILAS SATAV ..PETITIONER VS.

JANATA SAHAKARI BANK LTD. & ORS.

..RESPONDENTS ------------ Adv. S. S. Patwardhan a/w. Adv. Purushottam G. Chavan for the petitioner.

Adv. Vijay V. Chandavale a/w. Adv. Vishal Tambe for respondentno.1- Bank.

------------ CORAM : A.S. CHANDURKAR & RAJESH S. PATIL, JJ DATE : 20 JUNE 2024.

P.C. :

1.

The challenge raised in this writ petition is to the order dated 11 December 2023 passed by learned Presiding Officer, Debts Recovery Tribunal, Pune. By that order directions have been issued to the petitioner to deposit 10% of the amount of demand notice by particular date and 30% further amount within a period of two weeks from the date of the order as a condition for stay.

2.

According to learned counsel for the petitioner, such condition of deposit while entertaining the proceedings under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, Diksha Rane

911. WP 8311-24.doc 2002 (hereafter 'the said Act' for short) could not have been imposed especially in the light of the judgment of the Supreme Court in Mardia Chemicals Ltd. and others versus Union of India and others 1 . It is urged that this being a jurisdictional issue, the petitioner has approached this Court.

3.

Having heard learned counsel for the petitioner, we find that the proceedings filed under Section 17 of the said Act have been entertained without any condition of predeposit. It is only as a condition for grant of stay that the petitioner has been called upon to deposit 40% of the amount. In our view, it cannot be said that this direction is a condition precedent for entertaining the proceedings. It is only a condition for staying the recovery.

4.

We find that a statutory remedy of filing an appeal against the aforesaid order is available to the petitioner. Keeping all points open and with liberty to the petitioner to avail the statutory remedy, the writ petition is disposed of as not entertained.

[ RAJESH S. PATIL, J. ] [ A.S. CHANDURKAR, J. ] (2004) 4 SCC 311 Diksha Rane Signed by: Diksha Rane Designation: PS To Honourable Judge Date: 20/06/2024 19:52:46