Ratnadip Agrawal vs A.U. Small Finance Bank Limited
2021 Latest Caselaw 7022 MP

The High Court of Madhya Pradesh Bench at Indore

WP No.24036/2021 Ratnadip Agrawal & Ors. Vs. A.U. Small Finance Bank Ltd & Ors.

Indore, Dated:29.10.2021

Shri.Tarang Chelawat, learned counsel for petitioners.

Ms. Vinita Phaye, learned GA for State.

Learned counsel for petitioner submits that the petitioner intends to file appropriate proceedings against the order dated 22/7/2021 Annexure P/2 before the Debt Recovery Tribunal. However, the said Tribunal as on date is not functional in Madhya Pradesh. Petitioner will file file appropriate proceedings against the order dated 22/7/2021 (Annexure P/2) passed u/S.14 of the The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short SARFAESI Act) within 15 days from today along with a stay application. Till his said application is decided, the petitioner may be protected.

Learned counsel for petitioners placed reliance on the judgment of Telengana High Court in the matter of Veeraiah & Ors. Vs. Indian Overseas Bank, rep. By its Assistant Recovery Management Branch, Hyderabad & Ors. 2017 SCC OnLine Hyd 633 and Madras High Court in the matter of S.Suhaina Banu & Ors. Vs. Indian Bank & Ors. Passed in WP No.27230/2009 on 1/12/2010 to contend that if a necessary party died, even in proceedings u/S.14 of the said Act, the necessary party should be impleaded otherwise the order is a nullity. It is urged that Madhusudan Agrawal died before passing of order impugned dated 22/7/2021. Hence, the order dated 22/7/2021 is a nullity.

The petitioner has remedy to file appropriate proceedings Signature Not VerifiedDigitally signed by SAN VARGHESE before the said tribunal. We are informed that tribunal at present is MATHEW Date: 2021.10.30 10:17:42 IST

not functional in M.P. The party has a fundamental right to seek judicial review of an order which is against him. This right cannot be curtailed. Thus, we deem it proper to dispose of this petition by permitting the petitioner to file appropriate proceedings along with this order before the tribunal against the order dated 22/7/2021 within 15 days from today failing which the interim protection will come to an end automatically. The tribunal soon after it becomes functional will took up the said proceedings and consider and decide the said application expeditiously.

Subject to aforesaid, till decision is taken on the stay application of petitioners by the tribunal, no coercive action be taken against the petitioner pursuant to order dated 22/7/2021 Annexure P/2.

With aforesaid and without expressing any opinion on merits, petition is disposed of.

                                             (SUJOY PAUL)                                 (ANIL VERMA)
                                                  Judge                                        Judge

                                             vm




Signature Not Verified
              VerifiedDigitally
                       Digitally signed by
  SAN                  VARGHESE
                       MATHEW
                       Date: 2021.10.30
                       10:17:42 IST