M/S Tube Expansion And Equipments ... vs Unknown
2021 Latest Caselaw 1299 HP

CWP No.570 of 2021 25.02.2021 Present: Mr. T.S. Chauhan, Advocate, for the petitioner.

.

Mr. Ranvir Chauhan, Advocate, for respondents No.1 and 2.

Mr. Ashok Sharma, Advocate General with

Mr. Vinod Thakur, Mr. Vikas Rathore & Mr. Shiv Pal Manhans, Additional Advocates General and Mr. Bhupinder Thakur & Mr. Yudhvir Singh Thakur, Deputy Advocates General, for

respondent No.3-State.

CWP No.570 of 2021 & CMP No.974 of 2021

Heard in part.

Learned counsel for the petitioner has placed

strong reliance in support of his contention that third party

rights are protected from the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act, 2002 (in short 'SARFAESI Act') in two

judgments of this Court in CWP No.627 of 2016, titled

M/s Tube Expansion and Equipments Pvt. Ltd. Versus District

Magistrate, District Solan and others, decided on 11.4.2016

and CWP No.1892 of 2016, titled Saluja Motors Pvt. Ltd.

Versus District Magistrate and others, decided on 26.07.2016,

and in addition thereto, judgment of the Hon'ble Supreme

Court in Vishal N. Kalsaria Versus Bank of India and others,

(2016) 3 SCC 762. However, we find that these judgments

were rendered prior to the amendment carried out in the

SARFAESI Act vide S.O. 2831(E), dated 01.09.2016, which

has brought radical changes in the position of law.

In such circumstances, prima facie, the

.

judgments relied upon by the petitioner would not be

applicable to the facts of the instant case. Confronted with

this, learned counsel for the petitioner prays for

adjournment.

As prayed for, list on 26th February, 2021.

                 r            to        (Tarlok Singh Chauhan)
                                                Judge

                                          (Jyotsna Rewal Dua)
      February 25, 2021                         Judge
            (Mukesh)