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2016 Supreme(P&H) 1721

AJAY KUMAR MITTAL, RAMENDRA JAIN
Sri Vishnu Steels – Appellant
Versus
Union Bank of India – Respondent


Advocates Appeared:
For the Petitioner:Mr. Aalok Jagga, Advocate, Mr.Pankaj Gupta, Advocate and Ms. Jyoti Sareen, Advocate.
For the Respondents-Bank:Mr. Sandeep Suri, Advocate, Mr. Pavan Malik, Advocate, Mr. Vikas Goel, Advocate.

JUDGMENT :

Ajay Kumar Mittal, J.

1. This order shall dispose of CWP Nos.12496, 10471 and 10866 of 2016 as according to the learned counsel for the parties, the questions of law involved in all these petitions are identical. However, the facts are being extracted from CWP No.12496 of 2016.

2. In CWP No.12496 of 2016, the petitioner prays for quashing the order dated 1.6.2016, Annexure P.7 passed by respondent No.2 and sale notice dated 6.5.2016, Annexure P.5 passed by respondent No.1 being in violation to the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, “the SARFAESI Act”) and the Rules 2002 framed therein. Further prayer has been made for a direction to respondent No.2 to adjudicate IA No.817 of 2016 filed by the petitioner in SA No.389 of 2013. Direction has also been sought for restraining respondent No.1 Bank from selling hypothecated/mortgaged properties of the petitioner and in case if sold or any third party rights are created, restore the property back to the petitioner.

3. A few facts relevant for the decision of the controversy involved as narrated in the petition may be noticed. On 21.03.2013










































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