SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2022 Supreme(P&H) 836

ANIL KSHETARPAL
Punjab National Bank – Appellant
Versus
Surender Singh Bedi – Respondent


Advocates:
Mr.R.S.Bhatia, Advocate, for the Appellant; Mr. Aman Pal, Advocate, Mr. Anil Chawla, Advocate, for the Respondent.

JUDGMENT

ORDER

Anil Kshetarpal, J. (Oral). - The nationalised bank assails the correctness of the order passed by the trial Court on 30.07.2021. It is the stand of the bank that the jurisdiction of a Civil Court is barred under Section 34 of Securitisation and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002 (in short, 'the 2002 Act'). The Civil Court has rejected the application on the ground that the plaintiff has alleged fraud played on him by the secured creditor i.e. the Bank. The Court has relied upon the judgment passed by the Supreme Court in Mardia Chemicals Ltd, etc, vs. Union of India and another., AIR 2004 SCC2371.

2. The petitioner before this Court is alleged to have stood as a guarantor to the loan amount disbursed to M/s Saphire Digital Printers (defendant No.l). On default, the proceeding under the 2002 Act has been initiated against the borrowers as well as guarantors. The respondent (plaintiff) claims to have not only signed the agreement of guarantee but he also deposited the original title deeds with the bank in lieu of the loan amount. In substance, the plaintiff while filing the suit has alleged as under

    "4. That as a matter of fa

        Click Here to Read the rest of this document
        1
        2
        3
        4
        5
        6
        7
        8
        9
        10
        11
        SupremeToday Portrait Ad
        supreme today icon
        logo-black

        An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

        Please visit our Training & Support
        Center or Contact Us for assistance

        qr

        Scan Me!

        India’s Legal research and Law Firm App, Download now!

        For Daily Legal Updates, Join us on :

        whatsapp-icon telegram-icon
        whatsapp-icon Back to top