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2024 Supreme(Online)(MP) 36508

HIGH COURT OF MADHYA PRADESH
M/S Sonu Collections – Appellant
Versus
Smfg India Credit Co. Ltd. – Respondent


Advocates:
Dhiraj Dhaigude,

ORDER

Heard on the question of admission and interim relief.

This petition under Article 227 of the Constitution of India has been filed by the petitioners praying for the following reliefs:

    "(i)To quash the impugned order Annexure P/1 dated 12.03.2024 passed in S.A. No. 170/2024. (ii) To quash the notice u/S 13(2) Anneuxr P/2 dated 09.11.2021 as bad, illegal, improper, defective, unjust unwarranted.
    (iii) To direct the DRT to hear SA/170/2024 and decide the same in accordance with law by giving reasonable opportunity.
    (iv) To restrain the respondent as to take any coercive action against the petitioenrs of dispossession from secured asset.
    (v) To direct the respondent to conduct fair market valuation of the secured asset as to ascertain current market price and accordingly balance loan amount can concluded.
    (vi)Pass any other appropriate order as may be deemed fit, just and expedient in the interest of justice."

2. Brief facts of the case are that petitioners have filed Securitization Application under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002( referred to as "SARFAESI Act" hereinafter) against the or


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