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ARAVIND KUMAR, ASHUTOSH J. SHASTRI
STATE BANK OF INDIA – Appellant
Versus
HUBTOWN BUS TERMINAL (VADODARA) PVT. LTD. – Respondent
ORDER :
1. This appeal has been filed by the secured creditor assailing the correctness and legality of the judgment and order dated 10.12.2021 passed in Special Civil Application No. 10985 of 2021 whereunder the learned Single Judge has issued certain directions which reads as under:
10. Therefore, as far as the lease deeds which are executed or which are executed in part, there shall not be any need for issuance of No Objection Certificates by the respondent-Bank subject to the right of both the sides to agitate before the appropriate forum with regard to the fulfillment of the terms and conditions of the agreement entered into between the petitioners and the respondent-Bank.
11. It is als
The main legal point established in the judgment is the significance of a settlement between the parties in influencing the court's decision and the disposal of the appeal.
A purely declaratory decree that creates a fresh lease is non-executable; ejectment requires a separate suit per law.
The central legal point established is the requirement for the petitioners to submit a Restructuring Plan to the respondent-bank as per the RBI Guidelines.
Alternative remedy is not an absolute bar on maintainability of a writ petition under Article 226 of Constitution of India, where DRT has exceeded in exercising its jurisdiction.
Consent decrees are binding and enforceable, and courts can dispense mandatory notice for execution to prevent undue delay if justice requires it.
The main legal point established in the judgment is that when an alternative remedy is available to challenge an order under the SARFAESI Act, the instant writ petition is not maintainable.
The authority has the power to terminate a lease in case of breach, and a notice must be served before termination.
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