Pratibha Milk Industries And ORS v. Bank Of Baroda And ORS

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

CIVIL APPELLATE JURISDICTION WRIT PETITION NO.685 OF 2025 Pratibha Milk Industries, Pune and Ors.

.. Petitioners Vs.

Bank of Baroda, Pune and Ors.

.. Respondents Mr. Makrand Kate with Ms. Sayli Patil, Mr. Afsar Ansar, Mr. Devesh Sawant, Mr. Amol Thorat and Mr. Kannya Pagare, Advocates, i/by Vivek Patil & Associates, for the Petitioners.

Mr. Sachin Fuladi (through V.C.), Advocate for Respondent Nos.1 and 2. CORAM : A.S. CHANDURKAR & M.M. SATHAYE, JJ DATE : 17TH JANUARY 2025.

[ THROUGH HYBRID HEARING ] P.C. :

1.

It is submitted by the learned counsel for the petitioners that the National Company Law Tribunal in proceedings filed under Section 95 of the Insolvency and Bankruptcy Code, 2016 against the petitioner no.2 has directed that legal action / proceedings against the said petitioner no.2 in respect of any debt shall remain stayed. He submits that a similar order passed by the Tribunal on 13th November 2024 in respect of the petitioner no.3 issued a similar direction. Notwithstanding aforesaid, the learned Chief Judicial Magistrate on 24th October 2024 has proceeded to direct possession of the properties owned by the petitioner nos.2 and 3 to be sold pursuant to the provisions of Section 14 of the Securitization and Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002.

2.

The learned counsel appearing for respondent nos.1 and 2 seeks time to obtain instructions.

3.

Stand over to 20th January 2025 after urgent matters. [ M.M. SATHAYE, J. ] [ A.S. CHANDURKAR, J. ] 1/1 Digitally signed by SNEHA ABHAY DIXIT Date:

2025.01.18 12:21:01 +0530 Dixit SNEHA ABHAY DIXIT 903-WP-685-2025.doc