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NIRZAR S. DESAI
Nitin Ghanshyambhai Mehta – Appellant
Versus
Collector and District Magistrate – Respondent
ORDER :
1. By way of this petition, the petitioner has prayed for following relief/s:
B. Pending admission and final disposal of the present petition, be pleased to stay the implementation, operation and execution of the impugned order passed by the In-Charge Presiding Officer, DRT-I, Ahmedabad in SA No. 86 of 2021 dated 29.07.2022 and the consequential notice dated 06.10.2022 issued by the City Mamlatdar, Vejalpur, Ahmedabad; and further be pleased to restrain the respondents, their agents and servants from taking possession of the premises of the petitioners as mentioned in the schedule of the notice dated 06.10.2022 being property (secured assets) situated at 5th Floor, Unit B/507/A, Mondeal Square, Survey No.833/P, 881/P and 843, Final Plot No.1/1, Town Planning Scheme No.23, Opp. Honest Restaurant, S.G. Highway, Ahme
Exhaustion of alternative remedies and expedited hearing of pending applications.
The main legal point established in the judgment is the court's directive to handle the deposited amount, consider an early hearing of the Securitization Application, and not execute the sale-deed wi....
Subsection 3 of Section 13 makes it clear that a notice under Subsection 2 shall give details of the amount payable by the borrower. If Ms.Lodha’s submission were to be accepted, then the word “shall....
The court established that the executing authority under the Securitization Act must comply with orders for possession and cannot raise disputes regarding the secured asset.
Tribunals must decide all issues including limitation and jurisdiction; failure vitiates proceedings, warranting remand.
Contumacious conduct and failure to comply with court conditions can lead to the dismissal of applications and imposition of costs.
The borrower's right of redemption is extinguished upon the publication of the auction notice, allowing the auction purchaser to claim possession.
The court established that the right of redemption under the SARFAESI Act is extinguished upon the issuance of a sale certificate, and timely challenge to bank actions is essential.
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