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Showing contexts for: drat mumbai in Mangal Credit And Fincorp Limited vs Ulka Chandrshekhar Nair on 1 October, 2025Matching Fragments
28. Mr. Shah in the course of his submissions has emphatically relied on an order dated 20 February 2024 passed by the DRT, Mumbai passed in SA No. 282 of 2024 to reiterate that there is no jural relationship between the Applicant and the Respondent. The parties vide the said order were directed to maintain status quo in respect of the subject properties. According to Mr. Jain the said status quo order is assailed by the Applicant in appeal before the DRAT, Mumbai which is pending/subjudice. However, the issue that SARFAESI proceedings are in the nature of enforcement proceedings, whereas an arbitration is in the context of adjudicatory proceedings as held by the Supreme Court in MD Frozen Foods Exports Pvt. Ltd. & Ors. Vs. Hero Fincorp Ltd. 1 is no longer res integra. The Supreme Court in the said decision has held that proceedings under SARFAESI Act and the arbitration proceedings can go hand in hand meaning thereby, they can proceed parallelly. I have duly considered such legal position.