Shree Balaji Enterprises, Through Proprietor Mr. Sanjay Kumar Saini S/o Shri Nand Lal Saini vs Authorized Officer, Bank of Baroda

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2022 Supreme(Raj) 128

INDERJEET SINGH
Shree Balaji Enterprises, Through Proprietor Mr. Sanjay Kumar Saini S/o Shri Nand Lal Saini – Appellant
Versus
Authorized Officer, Bank of Baroda – Respondent

Advocates:
Advocate Appeared:
For the Petitioner:Mr. Ashish Davessar Mr. Rohan Agarwal, Adv. on behalf of Mr. J.K. Moolchandani Mr. Peush Nag Mr. Amit Ratnawat Mr. Aditya Jain Ms. Gyamlani Neha Mr. Chandra Kumar Mr. Mahesh Chand Gupta Mr. Nehpal Yogi Mr. Bhavya Golecha, Advocate
For the Respondent:Mr. Gupta Sarthak Mr. C.P. Sharma Mr. Ram Naresh Vijay, Adv. through V.C., Mr. Kailash Chand Darji Mr. Vineet Sharma, Adv. through V.C. Mr. Umang Gupta Mr. Aditya Khandelwal Ms. Priyal Kothari Mr. Ashish Gowalani Mr. Dinesh Garg Mr. Sarthak Gupta Mr. Kailash Chand Darji, Advocate

JUDGMENT :

1. These writ petitions have been filed by the petitioners against the nationalised banks/private financial institutions challenging the notices issued either under Section 13(2) of the Securitisation And Reconstructions of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter to be referred as "SARFAESI Act, 2002") or under Section 13(4) of the SARFAESI Act, 2002.

2. Counsel for the respondents raised a preliminary objection with regard to maintainability of these writ petitions as an alternative efficacious statutory remedy is available to the petitioners under the SARFAESI Act, 2002.

3. Counsel for the petitioners submitted that there is no factual dispute in these matters and the petitioners have filed these writ petitions as the respondent-financial institutions are not following the R.B.I. Guidelines. Learned counsel further submits that the respondent-bank/financial institutions are not obeying the guidelines of R.B.I. with regard to moratorium. Counsel further submits that there is no remedy available to them challenging the notices under Section 13(2) of the SARFAESI Act, 2002.

4. In support of their contentions, counsel for the petitioners re

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2022 Supreme(Raj) 128

INDERJEET SINGHShree Balaji Enterprises, Through Proprietor Mr. Sanjay Kumar Saini S/o Shri Nand Lal Saini – AppellantVersusAuthorized Officer, Bank of Baroda – Respondent

Cases Referred (4)

INDERJEET SINGH
Shree Balaji Enterprises, Through Proprietor Mr. Sanjay Kumar Saini S/o Shri Nand Lal Saini – Appellant
Versus
Authorized Officer, Bank of Baroda – Respondent