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2024 Supreme(Online)(Kar) 40150

KARNATAKA HIGH COURT
GSTAAD HOTEL PVT LTD – Appellant
Versus
UNION OF INDIA – Respondent


ORDER

The petitioner is before this Court seeking the following prayer:

(i) Issue a suitable writ, order or direction to declare that the Loan Account having facility of ID ECLGS-20- 21/T/PHL/022, ECLGS-21-22/T/PHL/28, IC-18-18- 00542/T/001.IC-17-18-00542/N/003 and IC-17-18- 00542/N/002 of the petitioner with the respondent No.4 – 6 – Piramal Enterprises Limited and Piramal Capital & Housing Finance Limited was not declared as a Non-Performing Asset or a Stressed Account in accordance with the Law/Rules/Policy/ Guidelines/Norms promulgated by the respondent No.2 – Reserve Bank of India and therefore, the respondent No.4 – 6 - Piramal Enterprises Limited and Piramal Capital & Housing Finance Limited could not have assigned the Loan Account of the petitioner to the respondent No.7 – Omkara Assets Reconstruction Private Limited under Section 5 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 and consequently declare that all actions taken pursuance thereof, including the Recall Notice dated 15-02-2023 appended at Annexure-A (Ref:- Omkara/Mum/ RO957/2022-23) and the Notices dated 20-02-2023 appended at Annexure-B (Ref:- Omkara/

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