Calcutta High Court
M/S. Uttam Cotton Mills [P] Ltd vs Indian Bank & Ors on 26 March, 2015
Author: I. P. Mukerji
Bench: I. P. Mukerji
ORDER SHEET
WP NO.339 OF 2015
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ Jurisdiction
ORIGINAL SIDE
M/S. UTTAM COTTON MILLS [P] LTD.
Versus
INDIAN BANK & ORS.
............
BEFORE:
The Hon'ble JUSTICE I. P. MUKERJI Date : 26th March, 2015.
Mr. R. K. Kali...appears.
Mr. S. Ghosh..appears.
The Court : It is more or less an admitted position that the bank has not taken physical possession of the properties regarding which it proposes to take action under section 13[4] of the SARFAESI Act. It has been held by the Hon'ble Supreme Court and by this Court taking physical possession is a pre-condition to taking measures under section 13[4] of the SARFAESI Act.
In those circumstances, the bank is restrained from taking any measures under section 13[4] of the said Act unless and until they are able to take physical possession of the property or properties in question. However, they may retain symbolic possession of the property or properties, which they have already taken, according to learned counsel for the bank.
As no affidavit in opposition has been filed allegations, if any, contained in the petition are not deemed to have been admitted.
This application is, accordingly, disposed of. Certified photocopy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.
(I. P. MUKERJI, J.) Pkd.
A.R.[C.R.]