Hindustan Petroleum Corporation Ltd. vs Bank Of India And Ors
2026 Latest Caselaw 177 Bom

Bombay High Court

Hindustan Petroleum Corporation Ltd. vs Bank Of India And Ors on 8 January, 2026

Author: R. I. Chagla

Bench: R. I. Chagla

PALLAVI
MAHENDRA                                                      1                 903-WP-345-2026 (C).doc
WARGAONKAR
Digitally signed by                                                                                         Pallavi
PALLAVI MAHENDRA
WARGAONKAR
Date: 2026.01.09
12:39:01 +0530
                                        IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                                CIVIL APPELLATE JURISDICTION

                                                  WRIT PETITION NO. 345 OF 2026

                      Hindustan Petroleum Corporation Ltd.                           ...Petitioner
                           Versus
                      Bank Of India And Ors.                                         ...Respondents
                                                     -----------------
                      Mr. Ashwin Shete a/w Rohit Jain i/b. Jayakar and Partners for the
                      Petitioner.
                      Mr. Anant Bamne i/b. M/s. A.R. Bamne & Co. for Respondent Nos.1 to 3.
                      Smt. Ashwini A. Purav, AGP for the Respondent No.6 - State.
                                                     -----------------
                                                                  CORAM :   R. I. CHAGLA AND
                                                                            ADVAIT M. SETHNA, JJ.

DATED : 8TH JANUARY, 2026

P.C.:-

1. The learned counsel appearing for Respondent Nos.1 to 3 states that

the grounds for moving the present Writ Petition for urgent ad-interim relief

no longer survives. This in view of the Respondent - Bank having

withdrawn the notice of sale of immovable property to the borrower issued

under Rules 8(5), 8(6) and 9(1) of the Security Interest (Enforcement)

Rules, 2002, dated 5 December 2025, by the authorised officer of the

Respondent - Bank.

2. The learned counsel for the Respondent Nos.1 to 3 further submitted

that the present Writ Petition has become infructuous and has sought

disposal of the Writ Petition in view thereof. Compilation of documents filed

2 903-WP-345-2026 (C).doc

by the Petitioner is taken on record.

3. The learned counsel appearing for the Petitioner states that prayer

clause (c) of the Writ Petition still survives, in view of the Petitioner's

contention that the leased property to the Petitioner as lessee does not

constitute "secured asset" within the meaning of the SARFAESI Act, 2002.

He has referred to the judgments of the Supreme Court with respect to

lease property and the rights of the lessee. These being Harshad Govardhan

Sondagar vs. International Assets Reconstruction Company Ltd. and Ors. 1;

Vishal N. Kalsaria vs. Bank of India and Ors. 2 and Bajarang Shyamsunder

Agarwal vs. Central Bank of India and Anr .3.

4. The learned counsel for the Respondent Nos.1 to 3 has sought time to

file an affidavit-in-reply to the Writ Petition. Respondent Nos.1 to 3 shall file

affidavit-in-reply within a period of four weeks from today. The Petitioner is

at liberty to file affidavit-in-rejoinder thereto within a period of two weeks

thereafter.

5. Place the Writ Petition for hearing at the admission stage on 9 March

2026 at 3.00 pm.

6. Liberty to the Petitioner to apply in the event the Respondent - Bank

issues notice of possession in respect of the leased property.

     [ADVAIT M. SETHNA, J.]                           [R.I. CHAGLA, J.]

1.     (2014) 6 SCC 1
2.     (2016) 3 SCC 762
3.     (2019) 9 SCC 94