P.S.DINESH KUMAR
Alpine Wineries Pvt Ltd – Appellant
Versus
Pridhvi Asset Reconstruction And Securitisation Company Limited – Respondent
JUDGMENT
P.S.Dinesh Kumar, J. - This writ petition is presented seeking a writ of certiorari and to quash order dated 17.12.2019 passed by the National Company Law Tribunal, Bengaluru Bench, (for short 'the NCLT' ) in C.P.(IB) No.286/BB/2019 and to permit the petitioner to fi le its statement of objections before NCLT.
2. Heard Shri Vivek Holla, learned advocate for petitioner and Shri M.Jagadeesh, learned advocate for respondent.
3. Brief ly stated the facts of the case are, petitioner-Company availed loan of Rs.36.93 crores from Bank of Maharashtra (for short 'the Bank' ) as per sanction dated 23.10.2009. The loan was restructured in the year 2012. It is pleaded that petitioner utilized the entire credit faci lity towards its infrastructure development and various other works. Due to unpredicted challenges, there was delay in getting receivables, due to the petitioner. Hence, there was delay in paying interest to the bank. The bank issued notice on 12.08.2014 under Section 13 (2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act)' . The properties mentioned in the notice as items No.12, 13 and 14 we
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