Pro Knits Represend By Its Partner vs The Board Of Directors Of Canara ...
2023 Latest Caselaw 8926 Bom

     2023:BHC-OS:9182-DB


                                                                                      M.ia(l).23378.2023.doc



                               IN THE HIGH COURT OF JUDICATURE AT BOMBAY

                                   ORDINARY ORIGINAL CIVIL JURISDICTION

                                  INTERIM APPLICATION (L) NO.23378 OF 2023

                                                                  IN
                                       WRIT PETITION (L) NO.20100 OF 2023

                       M/s. Pro Knits                                          .. Applicant

                       In the matter between:

                       M/s. Pro Knits                                          .. Petitioner

                                 Versus

                       The Board of Directors of Canara Bank & Ors.            .. Respondents

                         Ms.Hemali Kurne a/w B.S. Mundey i/b Nedumpara &
                         Nedumpara, Advocates for the Petitioner.

          Digitally
          signed by      O.A. Das a/w Pallavi Chori & Priya Nigwekar i/b O.A.
          UTKARSH
UTKARSH   KAKASAHEB      Das, Advocates for Respondent Nos.1 to 3.
KAKASAHEB BHALERAO
BHALERAO Date:
          2023.08.31
          16:23:25
          +0530          A.M. Sethna a/w Ashutosh Mishra & Rangan
                         Majumdar, Advocates for Respondent Nos. 4 and 5-Union of
                         India.

                         Sukanta Karmakar, AGP for State.

                                                        CORAM         : B. P. COLABAWALLA &
                                                                       M.M. SATHAYE, JJ.

                                                        DATE          : AUGUST 30, 2023



                       P. C.

                                                            AUGUST 30, 2023
                       Utkarsh





                                                               M.ia(l).23378.2023.doc




1.              Not on board. Taken on board.

2. The above Interim Application is filed inter alia to restrain

the Respondent Bank from proceeding any further under the provisions

of the SARFAESI Act and in particular in furtherance of the Notice

dated 8th August, 2023 putting the properties (which forms the subject

matter of the Interim Application) for sale on 31 st August, 2023.

3. Considering that the above Writ Petition along with a bunch

of other Writ Petitions have already been heard by this Court and have

been reserved for passing judgment, we are of the opinion that the

Respondent Bank should defer the sale of the Secured Assets mentioned

in the Interim Application till our decision is rendered.

4. We therefore direct that till the pronouncement of the

judgment in the above Writ Petition along with the other bunch of Writ

Petitions, which we have heard, the Respondent Bank shall not proceed

with the sale of the Secured Assets mentioned in the Interim Application

and shall defer the same.

5. The above Interim Application is disposed of in the

aforesaid terms. However, there shall be no order as to costs.

AUGUST 30, 2023 Utkarsh

M.ia(l).23378.2023.doc

6. This order will be digitally signed by the Private Secretary/

Personal Assistant of this Court. All concerned will act on production by

fax or email of a digitally signed copy of this order.

[ M.M. SATHAYE, J.] [ B. P. COLABAWALLA, J.]

AUGUST 30, 2023 Utkarsh