Bombay High Court
Sudhir Gupta vs J M Financial Asset Reconstruction ... on 7 September, 2022
Author: K. R. Shriram
Bench: K. R. Shriram
Digitally signed by
LAXMIKANT LAXMIKANT
GOPAL GOPAL CHANDAN
Date: 2022.09.08
CHANDAN 18:01:31 +0530
1 (10) wpl-26567.22 aw ial-28241.22.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
WRIT PETITION LODGING NO.26567 OF 2022
JM Financial Asset
Reconstruction Company Ltd. : Petitioner
versus
State of Maharashtra and anr. : Respondents
WITH
INTERIM APPLICATION LODGING NO.28241 OF 2022 (NOB)
Mr. Sudhir Gupta : Applicant/Intervdenor
In the matter of
J M Financial Asset
Reconstruction Company Limited : Petitioner.
Versus
The State of Maharashtra and anr. : Respondents.
-------
Mr. Prakash Shah a/w Mr. Durgaprasad Poojari i/by PDS Legal for
Petitioner.
Ms. Uma Palsuledesai, AGP for Respondent No.1.
Mr. Zal Andhyarujina, Senior Advocate, a/w Mr. Siddharth Samantaray, Mr.
Sujit Lahoti, Ms. Maithili Parekh, Ms. Shruti Relekar and Ms. Saniya Patki i/
by Legal Associates for Intervenor in Interim Application.
-------
CORAM : K. R. SHRIRAM &
A. S. DOCTOR, JJ.
DATE : 07th SEPTEMBER 2022
P.C.
1 We have considered the impugned order dated 05 th August 2022
passed by the Additional Chief Metropolitan Magistrate, 19 th Court, lgc 1/3 2 (10) wpl-26567.22 aw ial-28241.22.doc Esplanade, Mumbai. The order is totally contrary to settled law, in particular, the recent judgment dated 03 rd August 2022 of this Court in Writ Petition No.9749 of 2021 (Phoenix ARC Private Limited and anr. v/s The State of Maharashtra and ors). The magistrate ought not to have heard third party and could not have gone into merits of the matter. 2 The impugned order dated 05th August 2022 is, therefore, quashed and set aside.
3 Application under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022 filed by Petitioner, viz., Case No.898/SA/2021 is restored to file. 4 The Additional Chief Metropolitan Magistrate, 19 th Court, Esplanade, Mumbai shall re-hear the Application and pass appropriate orders in line with this Court's judgment dated 03rd August 2022 in Phoenix ARC Private Limited (supra).
5 Writ Petition stands disposed.
6 Mr.Andhyarujina, appearing for a party, who, he says is the Director of Respondent No.2 - the borrower, states that any objection his lgc 2/3 3 (10) wpl-26567.22 aw ial-28241.22.doc client may have, will be raised before the appropriate forum under Section 17 of SARFAESI Act. In view thereof, interim application (lodging) No.28241 of 2022, which is not listed today on board, stands disposed.
(A. S. DOCTOR, J.) (K. R. SHRIRAM, J.)
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