M/S Sunder Siddhi vs Malkapur Urban Co-Operative Bank And Others

Ajit B. Kadethankar, J

Not on Board. Taken on board at the instance of learned advocate for the Petitioner, on demonstration of pressing urgency evident from the notice dated 21.05.2026 (Exhibit I).

Mr. Adwant, learned Advocate submits that the petitioner is a borrower of respondent No. 1-Bank. Since the petitioner failed to repay the loan amount, an action under Secularization and Reconstruction of Financial Assets and Enforcement of Security Interest Act ( "SARFAESI Act" for brevity) was undertaken by respondent No. 1-Bank against the petitioner. He would submits that in the year, 2023 particularly on 05.07.2023 the Reserve Bank of India has canceled the banking license of the respondent No. 1 - Bank. He submits that in view of this development, it was not open for the Additional Tahsildar, Chhatrapati Sambhajinagar to issue the impugned notice dated 21.05.2026 in furtherance of the SARFAESI Act proceedings.

Petitioner's advocate further submits that vide the impugned notice, the Additional Tahsildar, Chhatrapati Sambhajinagar has called upon the petitioner to explain today as to why the possession of concerned Secured Assets should not be recovered. He further submits that the subject matter property is a premises where a school is run. He adds that the new academic year is commenced and the school is functioning with intake 400 students studying in the school.

This Court at the outset raised objection to the Petitioner as to why the Petitioner could not avail the statutory remedy before the learned Debts Recovery Tribunal. Mr. Advant replies that in view of termination of Respondent No.1's banking license, the learned Tribunal won't have jurisdiction to entertain Petitioner's present claim. Keeping issue of maintainability open, issue notice to respondents returnable on 02.07.2026.

The petitioner shall also serve the respondents by a permissible mode of private service and shall file affidavit of service to that effect.

Place the matter for further consideration on 02.07.2026 in urgent category. Petitioner shall first satisfy this Court on maintainability of the Writ Petition.

Considering the statement that a school is actively functional on the subject-matter site, only till the next date the notice dated 21.05.2026, which according to Mr. Adwant learned Advocate is served on the petitioner on 27.05.2026, shall not be acted upon.

Learned Assistant Government Pleader Mr. Jahagirdar waives service of notice for respondent Nos. 2 and 3.

All contentions are kept open.