Madhya Pradesh High Court
M/S Surendra Kumar Jain Through Its ... vs Axis Bank Limited on 21 April, 2026
Author: Anand Pathak
Bench: Anand Pathak
NEUTRAL CITATION NO. 2026:MPHC-GWL:12923
1 WP-14677-2026
IN THE HIGH COURT OF MADHYA PRADESH
AT GWALIOR
BEFORE
HON'BLE SHRI JUSTICE ANAND PATHAK
&
HON'BLE SHRI JUSTICE PUSHPENDRA YADAV
ON THE 21st OF APRIL, 2026
WRIT PETITION No. 14677 of 2026
M/S SURENDRA KUMAR JAIN THROUGH ITS PROPRIETOR MR.
SUBHASH CAHND JAIN AND OTHERS
Versus
AXIS BANK LIMITED AND OTHERS
Appearance:
Shri Mayank Chaudhary Advocate appeared through video conferencing and Ms.
Prachi Dubey - Advocate for the petitioners.
None for respondent No. 1/Bank.
Shri Ravindra Dixit - Government Advocate for the respondent No. 2/ State.
ORDER
Per: Justice Anand Pathak
1. The instant petition has been preferred by the petitioners seeking following reliefs :-
"1. Issue an appropriate Writ, Order or Direction in the nature of Certiorari to the Respondents to Stay the operation and execution of the notice dated 31.03.2026 issued by Respondent No.2 (Tehsildar, Vidisha) for taking physical possession of the secured asset on 22.04.2026 in compliance with the impugned order dated 29.01.2026;
2. This Hon'ble Court be pleased to stay the operation of the physical possession in compliance of impugned order dated 29.01.2026 passed by Learned Chief Judicial Magistrate, Vidisha under Section 14 of the Act, 2002;
3. Issue an appropriate Writ, Order or Direction in the nature of Mandamus to the Respondent Bank to maintain status quo with regard to the disputed properties until disposal of the instant S.A 423/2026, which is pending before D.R.T in the interest of justice and not create any hindrance in the Signature Not Verified Signed by: SANJAY NAMDEORAO DURGEKAR Signing time: 4/22/2026 1:57:45 PM NEUTRAL CITATION NO. 2026:MPHC-GWL:12923
2 WP-14677-2026 peaceful possession of the Petitioner over the Property in question, till the appointment of new presiding officer.
4. Issue an appropriate Writ, Order or Direction in the nature of Mandamus to the Respondent Bank not to create any hindrance in the peaceful possession of the Petitioner over the property in question by auctioning the Petitioner's property.
5. Pass such Order and further orders as this Hon'ble Court may deem fit and proper in the facts and circumstances of this case."
2. Learned counsel for the petitioners submits that DRT, Jabalpur is not functional because Presiding Officer has demitted the office and in absence of Presiding Officer, matter is referred to DRT, Lucknow, but there is no member available in the Lucknow DRT. Therefore, in the conspectus of facts and circumstances of the case, petitioners are rendered remediless. Tehsildar intends to proceed against the petitioners because of conclusion of proceedings by the District Magistrate under section 14 of SARFESI Act. Learned counsel for the petitioners further submits that Division Bench of this Court, principal seat at Jabalpur vide order dated 08/04/2026 passed in W.P. No. 12618/2026 ( Shri Laxminarayan Kachhi and Ors. vs. Hinduja Housing Finance Limited and Ors.), wherein, learned Division Bench considering the earlier order dated 23/11/2021 passed in W.P. No. 25138/2021 (M/s. Divyadeep Sugar and Industries Private Limited and Ors. vs. India Bank and Ors.) issued certain directions to protect the interest of the borrower for the time being till interim application is decided by full functinal DRT.
3. At this stage, learned counsel for the petitioners submits that petitioners are ready to deposit an amount of Rs. 35 Lakhs (Rs. Thirty Five Lakhs) out of total liability of Rs. One crore Twenty Six Lakhs.
4. Considering the aforesaid submissions, the instant writ petition is disposed Signature Not Verified Signed by: SANJAY NAMDEORAO DURGEKAR Signing time: 4/22/2026 1:57:45 PM NEUTRAL CITATION NO. 2026:MPHC-GWL:12923 3 WP-14677-2026 of with the following directions:-
(i) Without prejudice to any of the rights of the parties, petitioners are directed to deposit Rs. Thirty Five lakhs (the amount so deposited shall be adjusted in the final settlement) of the amount due as on date with the respondent/Bank within a period of 30 days from today, subject to further orders that may be passed by the Debts Recovery Tribunal, Jabalpur.
(ii) The DRT, Jabalpur is directed to take-up S.A 423/2026 as soon as it becomes functional for consideration of interim relief and take a decision in accordance with law as expeditiously as possible.\
(iii) Till the prayer for interim relief in the said S.A. is decided by the DRT, no coercive action be taken against the petitioners subject to compliance of direction No.1 as above.
(iv) The petitioners are directed to communicate this order to the Registrar, DRT, Jabalpur within seven working days from today.
(v) If there is excessive delay at any stage of the proceedings including in the appointment of Presiding Officer of DRT, Jabalpur or any other DRTs given Additional Charge, parties are free to approach this Court.
(vi) It is made clear that this Court has not expressed any opinion of the merits of the case.
5. The writ petition is disposed off with the aforesaid directions.
(ANAND PATHAK) (PUSHPENDRA YADAV)
JUDGE JUDGE
Durgekar
Signature Not Verified
Signed by: SANJAY
NAMDEORAO DURGEKAR
Signing time: 4/22/2026
1:57:45 PM