AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
14 paragraphs · 459 wordsVijay Kumar Shukla, J
The petitioners have filed the present petition under Article 226 of the Constitution of India being aggrieved by the possession notice issued in pursuant to the order passed under the provisions of Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the SARFAESI Act'), whereby the respondents are going to take possession.
Counsel for the respondent /bank objected that the petitioners have filed the present petition without approaching to the DRT.
Counsel for the petitioner submits that since the post of Presiding Officer of DRT Jabalpur is vacant and at present the cases of DRT Jabalpur are not being heard, therefore they have not filed the case.
Counsel for the respondents produced an order passed by the Coordinate Bench at Jabalpur in W.P No.12124/2026 in the case of M/S D.G Oil Foods Pvt. Ltd. & Others v/s Indian Bank and submits that in the present case, similar order be passed.
In view of the law laid down by the Apex Court arising out of SLP (C) No.8850-8851 of 2023 (E. Muthuranthinasabathy & Others v/s M/S. Sri International & Others with connected matters) dated 01.04.2026, we dispose of the present writ petition with the following directions:-
(i) The petitioner will file an application under section 17 of SARFAESI Act in accordance with law within the period of 7 days from today alongwith the deposit of 10% of the amount due as on date with the respondent/bank, subject to further orders that may be passed by the Debts Recovery Tribunal, Jabalpur.
(ii) The DRT is directed to take-up the S.A. as soon as it becomes functional for consideration of interim relief and take a decision in accordance with law as expeditiously as possible;
(iii) Till the prayer for interim relief in the said S.A. is decided by the DRT, status quo as exists today in respect to the secured assets will be maintained by the parties subject to compliance of direction No.1 as above;
(iv) The petitioners are directed to communicate this order to the Registrar, DRT, Jabalpur within seven working days from today;
(v) If there is excessive delay at any stage of the proceedings including in the appointment of Presiding Officer of DRT, Jabalpur or any other DRTs given Additional Charge, parties are free to approach this Court;
(vi) It is made clear that this Court has not expressed any opinion on the merits of the case; and
(vii) The auction purchaser as well as respondent / Bank shall follow the procedure as per Rule 9(1) of the Security Interest (Enforcement) Rules, 2002 issued under the SARFAESI Act, 2002.
Writ Petition stands disposed of to the extent indicated hereinabove.
