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2024 Supreme(SC) 333

B. R. GAVAI, RAJESH BINDAL, SANDEEP MEHTA
PHR Invent Educational Society – Appellant
Versus
Uco Bank – Respondent


Advocates appeared:
For the Petitioner(s): Mr. R. Basant, Sr. Adv. Mr. Khalid M.S., Adv. Mr. A. Karthik, AOR Mr. Manu Krishnan G, Adv. Ms. Gunjan Rathore, Adv. Mr. Kavinesh Rm, Adv.
For the Respondent(s): Mr. Jayant Bhushan,Sr.Adv. Mr. Venkateswara Rao Anumolu, AOR Mr. Sunny Kumar, Adv. Mr. Puneet Aggarwal, Adv. Mr. Partha Sil, AOR Mr. Sanjay Kr. Saxena,Adv. Mr. Chirag Joshi,Adv. Ms. Sayani Bhattachgarya,Adv. Mr. Abhiraj Chaudhary,Adv.

JUDGMENT :

B.R. GAVAI, J.

1. Leave granted.

2. This appeal challenges the order dated 4th February 2022, passed by the Division Bench of the High Court for the State of Telangana at Hyderabad in Writ Petition No. 5275 of 2021, whereby the High Court disposed of the writ petition filed by Dr. M.V. Ramana Rao, respondent No. 3 herein (hereinafter referred to as ‘the Borrower’). The High Court set aside the order dated 2nd February 2021, passed by the Debts Recovery Tribunal-II at Hyderabad (hereinafter referred to as ‘DRT’) and allowed Miscellaneous Application (M.A.) No. 97 of 2020 in Securitization Application (S.A.) No. 1476 of 2017 filed by the Borrower for the restoration of the said S.A. No. 1476 of 2017 filed by him under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’ for short). The Borrower had filed S.A. No. 1476 of 2017 against the Notice dated 2nd September 2017 issued by the UCO Bank (hereinafter referred to as the ‘Respondent-Bank’) for the sale of his mortgaged properties which was to be conducted by the Authorized Officer (Respondent No.2) of the Respondent-Bank in light of the defaul

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