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IN THE HIGH COURT OF MADHYA PRADESH
AT JABALPUR
BEFORE
SHRI JUSTICE SUJOY PAUL
&
SHRI JUSTICE PRAKASH CHANDRA GUPTA
ON THE 15th OF SEPTEMBER, 2022
WRIT PETITION No. 18238 OF 2022
Between :-
1. M/S. GANPAT PANNALAL, THROUGH
ONE OF ITS PARTNER SHRI
MRITUNJAY S/O. EKNATH AGRAWAL,
AGED ABOUT ADULT YEARS, SITUATED
AT : V V GIRI WARD, HARDA, MP-461331.
2. SMT. ABHA DEVI AGRAWAL W/O.
GOPAL DAS AGRAWAL, AGED ABOUT 62
YEARS, OCCUPATION BUSINESS, R/O.
WARD NO.12, CHANDAK CHAURAHA,
MAIN ROAD V. V. GIRI WARD, HARDA,
MP-461331.
3. SHRI VISHWANATH AGRAWAL S/O
EKNATH AGRAWAL, AGED ABOUT 48
YEARS, OCCUPATION BUSINESS, R/O.
150, AGRASEN CHAURAHA, MAIN ROAD
V. V. HARDA, M.P. 461331.
4. SHRI GOPAL DAS AGRAWAL S/O.
BADRI PRASAD AGRAWAL, AGED
ABOUT 65 YEARS, OCCUPATION
BUSINESS,
R/O.
150,
AGRASEN
CHAURAH, MAIN ROAD V. V. HARDA,
M.P. 461331.
5. SHRI VIVEK AGRAWAL S/O. GOPAL
DAS AGRAWAL, AGED ABOUT 50 YEARS,
OCCUPATION BUSINESS, R/O. MAIN
ROAD V.V. GIRI WARD, HARDA M.P.
481331.
6. SMT. RAGINI BANSAL W/O.
SHRINIVAS BANSAL, AGED ABOUT
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ADULT, OCCUPATION BUSINESS, R/O.
MAIN ROAD, WARD NO. 15, AACHARYA
VINOBHA BHAVE WARD HARDA, M.P.
461331.
7.
SMT. SHIVA BAGDI W/O. BRIJESH
BAGDI,
AGED
ABOUT
ADULT,
OCCUPATION BUSINESS, R/O. MAIN
ROAD, WARD NO. 15, AACHARYA
VINOBHA BHAVE WARD, HARDA, M.P.
461331.
8.
SHRI SAURABH BANSAL S/O.
SHRINIVAS BANSAL, AGED ABOUT
ADULT, OCCUPATION BUSINESS, R/O.
MAIN ROAD, WARD NO. 15, AACHARYA
VINOBHA BHAVE WARD, HARDA, M.P.
461331.
9.
SHRI SIDDHARTH BANSAL S/O
SHRINIVAS BANSAL, AGED ABOUT
ADULT, OCCUPATION BUSINESS, R/O.
MAIN ROAD, WARD NO. 15, AACHARYA
VINOBHA BHAVE WARD, HARDA, M.P.
461331.
10.
M/S. NARMADA GINNING AND
PRESSING
FACTORY,
HARDA,
THROUGH ITS PARTNER SHRI GOPAL
DAS AGRAWAL, SITUATED AT TEHSIL
KHIRKIA, HARDA, M.P. 461441.
.…PETITIONERS
(BY SHRI UDIT MAINDIRETTA , ADVOCATE )
AND
STATE BANK OF INDIA,
THROUGH ITS AUTHORIZED OFFICER,
STRESSED ASSETS MANAGEMENT
BRANCH, STATE BANK BUILDING,
FIRST FLOOR, PLOT NO.1, ARERA
HILLS, BHOPAL – 462011 (M.P.).
…...RESPONDENT
(BY SHRI JAGBANDAN PATEL, ADVOCATE )
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This writ petition coming on for hearing this day, Justice Sujoy
Paul, passed the following :
O R D E R
This petition filed under Article 227 of the Constitution of India
assails the legality, validity and propriety of order dated 01.08.2022
(Annexure P/5) passed by the Debts Recovery Tribunal (Tribunal),
whereby while ordering restoration of the S.A. No.176/2022, which was
dismissed for want of prosecution on 02.05.2022, the learned Tribunal
directed that the SA will be restored subject to fulfilling certain
conditions.
Submissions of petitioners :-
2.
The petitioners have assailed this order dated 01.08.2022 mainly
on the grounds :
(i)
That the Tribunal had jurisdiction to restore the
securitization application (SA) subject to payment of
reasonable cost but the Tribunal did not have any
jurisdiction to impose the unreasonable conditions,
which have no nexus with imposition of cost.
(ii)
The Tribunal did not have jurisdiction to put such
onerous conditions and therefore, such without
jurisdiction order can be impugned without availing
statutory alternate remedy under Section 18 of the
Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest Act of
2002 (Act of 2002).
3.
To elaborate, Shri Udit Maindiretta, learned counsel for the
petitioners submits that the petitioners have filed aforesaid SA before the
Tribunal. The Tribunal by order dated 11.04.2022 granted interim
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protection to the petitioners by directing that till next date of hearing, no
sale certificate be issued. It is worthnoting that the Tribunal did not
impose any condition while granting interim relief. No dou
