Punjab-Haryana High Court
M/S A.B. Agro vs Bank Of Baroda on 20 September, 2023
CWP-22364-2021 (O&M) 2023:PHHC:123895-DB 1
IN THE HIGH COURT OF PUNJAB AND HARYANA
AT CHANDIGARH
(281) CWP-22364-2021 (O&M)
Date of Decision: 20.09.2023
M/S A.B. Agro ... Petitioner
Versus
Bank of Baroda ...Respondent
CORAM: HON'BLE MRS. JUSTICE LISA GILL
HON'BLE MRS. JUSTICE RITU TAGORE
Present: Mr. Arjun Partap Atma Ram, Advocate
for the petitioner.
Mr. C.S. Pasricha, Advocate and
Mr. Sushil K. Bhardwaj, Advocate
Ms. Manish, Law Officer
for respondent-Bank.
Mr. Dheeraj Jain, Sr. Panel Counsel
for respondent No.1-Union of India.
Mr. Harsh Chopra, Advocate and
Mr. Satnam Singh, Advocate
for respondent No.3-National Horticulture Board.
3 2 ie ok
LISA GILL, J (QRAL)
1. Prayer in this writ petition is for setting aside notice dated
17.09.2021 (Annexure P-10) under Section 13 (2) and notice dated
02.12.2021 (Annexure P-14) under Section 13 (4) of the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 (for short 'SARFAESI Act'). Further prayer is for directing
respondents to consider and decide representation/request dated 13.07.2021
(Annexure P-5) for invoking extension of restructuring facility without a
downgrade in Asset Classification under resolution framework, as per
MANPREET SINGH
2023.09.22 13:10
I attest to the accuracy and
authenticity of this
order/judgment
CWP-22364-2021 (O&M) 2023:PHHC:123895-DB 2
notification dated 05.05.2021 by Reserve Bank of India. It is pleaded that
account of the petitioner was declared NPA in contravention of circulars
issued by Reserve Bank of India.
2. When faced with the question of entertainability of this writ
petition in view of judgment of Hon'ble the Supreme Court in Union Bank
of India vs. Satyawati Tandon and others, 2010 (8) SCC 110,
Varimadgugu Obi Reddy vs. B. Sreenivasulu and others, 2023 (1)
R.C.R. (Civil) 34, M/s South Indian Bank Ltd. and others vs. Naveen
Mathew Philip and others, 2023 (2) R.C.R. (Civil) 771, learned counsel
for the petitioner submits that he has instructions to withdraw this writ
petition with liberty to petitioner to avail the statutory remedy/remedies as
may be available to him in accordance with law. However, it is prayed that
interim protection granted to the petitioner vide order dated 19.07.2022
should be kept intact for a period of 10 days to enable the petitioner to
approach learned Debts Recovery Tribunal, Chandigarh for redressal of his
grievance including the question of interim relief. Petitioner, it is submitted
will also avail of the remedy/remedies available to him in respect to any
grievance against respondent No.3, though, it is submitted by learned
counsel for the respondent No.3 that no claim has been raised against
respondent No.3 in the present writ petition.
3. Learned counsel for the respondent-Bank submits that for the
next 10 working days, no coercive action shall be taken against the
petitioner.
4. Keeping in view the facts and circumstance as above, this writ
petition is dismissed as withdrawn with liberty to the petitioner to avail the
statutory remedy/remedies as may be available to him in accordance with
MANPREET SINGH
2023.09.22 13:10
I attest to the accuracy and
authenticity of this
order/judgment
CWP-22364-2021 (O&M) 2023:PHHC:123895-DB 3
law. It is clarified that there is no expression of opinion on the merits of the
matter as well as on the question of interim relief, if any, which needless to
say is within the realm of consideration by learned Debts Recovery
Tribunal, Chandigarh.
5. Pending miscellaneous applications, if any, stand disposed of
accordingly.
(LISA GILL)
JUDGE
(RITU TAGORE)
JUDGE
September 20, 2023
Manpreet
Whether speaking/reasoned Yes/No
Whether reportable : Yes/No
MANPREET SINGH
2023.09.22 13:10
I attest to the accuracy and
authenticity of this
order/judgment
