HIGH COURT OF DELHI
MR. JUSTICE SUBRAMONIUM PRASAD, J
J.C. FLOWERS ASSET RECONSTRUCTIONS PVT. LTD. – Appellant
Versus
UNION OF INDA & ORS. – Respondent
1. The Petitioner, an asset reconstruction company, has approached this Court for a direction to Respondent No.2 for changing the alignment/path and position of the electrical pole and high tension transmission line which is being built over the land pertaining to Khasra Nos.7/16 min (2-8) south side and 8/20/1 min (0-7) south side and other Khasras in the revenue estate of Village Khampur, New Delhi-110036 (hereinafter referred to as ―Subject Property‖).
2. The facts in brief indicate that Yes Bank Limited had extended credit facilities to five entities of one Presidium Group. Since the borrowers failed to make payments as demanded by Yes Bank, proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 were initiated. Physical possession of the land which had been mortgaged to Yes Bank was taken under Section 13(4) of the SARFAESI Act, 2002. Yes Bank vide an Assignment Agreement dated 16.12.2022 has assigned the debt to the Petitioner which as stated earlier is an asset reconstruction company. The Petitioner under the Agreement is in possession of the Subject Property and is trying to enforce its se
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.