M/S. Maharashtra Enginering And ORS v. Bank Of Maharashtra

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.12021 OF 2024 Maharashtra Engineering, Kolhapur and Ors.

.. Petitioners Vs.

Bank of Maharashtra, Stressed Asset Management Branch, Mumbai .. Respondents Mr. Charles De Souza, i/by Ms. Jiil Rodricks and Mr. Amit Tungare, Advocates for the Petitioners.

Mr. Nitesh Agarwal with Mr. Sachin Patil, Advocates for the Respondents. CORAM : A.S. CHANDURKAR & RAJESH S. PATIL, JJ DATE : 26TH AUGUST, 2024.

P.C. :

1.

The challenge in the present writ petition is to the order dated 26th June 2024 passed by the Debts Recovery Tribunal-II in Miscellaneous Application No.32 of 2024 by virtue of which an order of status-quo which was earlier passed came to be vacated on the ground that the original proceedings being Securitization Application No.1454 of 2023 was no longer pending.

2.

The learned counsel for the petitioners however restricts the scope of the present writ petition to the reliefs sought in prayer clauses (c) and (d). He seeks expeditious consideration of the proceedings pending before the Debts Recovery Tribunal as well as Company Petition No.94 of 2023 that is pending before the National Company Law Tribunal. 3.

Having considered the facts of the case and in view of issuance of the Sale Certificate of one of the mortgaged properties on 11th July 2024, 1/2 8-WP-12021-2024.doc Dixit

the proceedings before the National Company Law Tribunal are expedited. At the conclusion of the said proceedings, the petitioners are at liberty to make a request to the Debts Recovery Tribunal for adjudicating the pending proceedings expeditiously. All points raised are kept open. 4.

The writ petition is disposed of.

[ RAJESH S. PATIL, J. ] [ A.S. CHANDURKAR, J. ] 2/2 8-WP-12021-2024.doc Dixit