Gujarat High Court
Narendra Bhagwatiprasad Panchal vs Union Of India Through Ministry Of ... on 18 June, 2025
Author: Sunita Agarwal
Bench: Sunita Agarwal
NEUTRAL CITATION
C/SCA/3673/2014 ORDER DATED: 18/06/2025
undefined
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/SPECIAL CIVIL APPLICATION NO. 3673 of 2014
With
CIVIL APPLICATION (FOR ORDERS) NO. 1 of 2025
In R/SPECIAL CIVIL APPLICATION NO. 3673 of 2014
==========================================================
NARENDRA BHAGWATIPRASAD PANCHAL & ANR.
Versus
UNION OF INDIA THROUGH MINISTRY OF FINANCE & ORS.
==========================================================
Appearance:
MR DHARMESH J GURJAR(5702) for the Petitioner(s) No. 1,2
MR AMAR N BHATT(160) for the Respondent(s) No. 4
MS. ZEEL RANA with MR ANKIT SHAH(6371) for the Respondent(s) No. 1
MR VIVEK B GUPTA(5611) for the Respondent(s) No. 2
NANAVATI & CO.(7105) for the Respondent(s) No. 2
RULE SERVED for the Respondent(s) No. 4
==========================================================
CORAM:HONOURABLE THE CHIEF JUSTICE MRS. JUSTICE
SUNITA AGARWAL
and
HONOURABLE MR.JUSTICE D.N.RAY
Date : 18/06/2025
ORAL ORDER
(PER : HONOURABLE THE CHIEF JUSTICE MRS. JUSTICE SUNITA
AGARWAL)
1. None appears for the petitioners.
2. This petition has been pending since the year 2014,
wherein, the challenge was to the validity of the provisions
contained in Section 2 (1) (o) of the Securitisation and
Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (SARFAESI Act, 2002) as also
NEUTRAL CITATION
C/SCA/3673/2014 ORDER DATED: 18/06/2025
undefined
the circular dated 13.07.2005 issued by the Reserve Bank
of India, on the premise that they are ultra vires to the
constitution of India or the Reserve Bank of India Act,
1934, Banking Regulation Act, 1949 and the SARFAESI
Act, 2002
3. Mr. Amar Bhatt, learned advocate appearing for the
Reserve Bank of India has submitted that the validity of
the Section 2 (1) (o) of the SARFAESI Act, 2002 has been
upheld by the Hon'ble Apex Court in the judgment and
order dated 28.01.2015 in case of Keshavlal
Khemchand and Sons Pvt. Ltd. and Others V/s. Union
of India and Others reported in AIR 2015 SC 1168.
Whereas the validity of the circular dated 13.07.2005, RBI
guidelines had already been upheld by reading the
Banking Regulation Act, 1949 vide judgment and order
dated 30.09.2010 reported in (2010) 10 SCC 1 in case of
ICICI Bank Limited V/s. Official Liquidator of APS
Star Industries Limited and Others. It is submitted that
in the original petition, the validity of the circular dated
07.05.2012 was challenged and on an objection raised by
the learned advocate appearing for the Reserve Bank of
NEUTRAL CITATION
C/SCA/3673/2014 ORDER DATED: 18/06/2025
undefined
India that the said circular was not applicable, amendment
was carried out for challenging the circular dated
13.07.2005 under the order passed by this Court dated
20.04.2015.
4. Taking note of the above, we find that none of the prayers
made in the writ petition would survive as on date. The
Writ petition is rendered infructuous and dismissed as
such. Rest of the application stands disposed of.
(SUNITA AGARWAL, CJ )
(D.N.RAY,J)
VARSHA DESAI
