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2013 Supreme(Guj) 151

BHASKAR BHATTACHARYA, J.B.PARDIWALA
Administrator - Shri Dhakdi Group Co-operative Cotton Seed – Appellant
Versus
Union of India – Respondent


Appearance :
Advocate for the Petitioners.
Mr. Vishwas K. Shah, with Mr. Masoom K. Shah [SCAS No. 930 of 2011, 1730 of 2012, 8082 of 2012, 15253 of 2012, 15269 of 2012, and 11424 of 2012].
Mr. Navin M. Chauhan [SCA No. 622 of 2012].
Mr. Mahesh Bhavsar [SCA No. 3046 of 2012], and Mr. J.T. Trivedi, Advocates [SCA No. 13999 of 2012].
Advocates for the Respondents.
Mr. P.S. Champaneri, Asst. Solicitor General of India with Mr. Hriday Buch, Sr. Standing Counsel, for the respondent Union of India in all matters.
Mr. Rutvij S. Oza, for the respondent No. 2 in SCA No. 930 of 2011.
Ms. Archana R Acharya, for the respondents No. 2 in SCA No. 622 of 2012.
Mr. Anshin H. Desai, Mr. Rutvij S. Oza and Mr. Ishan Mihir Patel, for the respondents No. 1, 2 and 3 respectively in SCA No. 1730 of 2012, Mr. Umesh A. Trivedi, for the respondents No. 2 and 3 in SCA No. 3046 of 2012.
Mr. K.K. Trivedi in SCA No. 8082 of 2012.
Mr. Bhargav Karia & Associates, for the respondent No. 2 in SCA No. 15253 of 2012.
Mr. Keyur A. Vyas, for the respondent No. 2 in SCA No. 15269 of 2012.
Mr. Umesh A. Trivedi, for the respondent No. 3, Mr. P.K. Jani with Ms. Vacha Desai, AGP, for the respondents No. 4 and 5 in SCA No. 11424 of 2012, and Mr. U.I. Vyas with Ms. Dhurva V. Vyas, for the respondent No. 2 in SCA No. 13999 of 2012.

Judgment

Bhaskar Bhattacharya, CJ.—All these Special Civil Applications were heard together as the following questions arise for consideration in all these Special Civil Applications:—

(a) Whether the ratio laid down by a three-judge-bench of the Hon’ble Supreme Court of India in the matter of Greater Bombay Co-operative Bank Ltd. vs. United Yarn Tex Pvt. Ltd. reported in (2007) 6 SCC 236 was considered, interpreted and appreciated in the appropriate perspective by the respondents?

(b) Whether the reasoning and analogy applied by the Hon’ble three-judge-bench of the Supreme Court of India in Greater Bombay Co-operative Bank Ltd. vs. United Yarn Tex Pvt. Ltd. (Supra), in holding that the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, [RDBI Act and/or DRT Act, hereafter] will not apply to Co-operative Societies, should apply to the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [Securitization Act and/or Sarfaesi Act, hereafter]?

(c) Whether the notification dated 28th January 2003 issued by the Central Government purportedly under the exercise of its power under Section 2(1) (c) (v) of the Secu











































































































































































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