M/S Lakhmeet Associates vs Canara Bank
2024 Latest Caselaw 28244 MP

Madhya Pradesh High Court

M/S Lakhmeet Associates vs Canara Bank on 14 October, 2024

         NEUTRAL CITATION NO. 2024:MPHC-JBP:51222




                                                              1                              WP-30811-2024
                              IN     THE      HIGH COURT OF MADHYA PRADESH
                                                    AT JABALPUR
                                                         BEFORE
                                         HON'BLE SHRI JUSTICE SANJEEV SACHDEVA
                                                            &
                                           HON'BLE SHRI JUSTICE VINAY SARAF
                                                 ON THE 14th OF OCTOBER, 2024
                                                WRIT PETITION No. 30811 of 2024
                                                  M/S LAKHMEET ASSOCIATES
                                                           Versus
                                                  CANARA BANK AND OTHERS
                           Appearance:
                                   Shri Shekhar Sharma - Advocate for petitioner.


                                                                  ORDER

Per: Justice Sanjeev Sachdeva

Shri Kapil Duggal, Advocate entered appearance for respondents and submits that notice for auction has already been published and in view of the judgment of Supreme Court in case of Celir LLP vs. Bafna Motors (Mumbai) Pvt. Ltd & ors., (2024) 2 SCC 1, no relief can be granted to the petitioner under Article 226 of the Constitution of India and remedy of the

petitioner, if any is under the Securitization & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002.

In view of the said objection, learned counsel for petitioner seeks leave to withdraw the petition reserving the right of petitioner to take such appropriate remedies as may be permissible in law. He further submits that he also reserves the right to approach the bank for the purpose of

NEUTRAL CITATION NO. 2024:MPHC-JBP:51222

2 WP-30811-2024 regularization of the account in terms of circular of the Reserve Bank of India.

In view of the above, the petition is dismissed as withdrawn. All rights and contentions of the parties are reserved.

                                   (SANJEEV SACHDEVA)                                (VINAY SARAF)
                                          JUDGE                                          JUDGE


                           vibha