Vande Mataram Educational Trust vs Reliance Home Finance Ltd
2024 Latest Caselaw 5427 P&H

Punjab-Haryana High Court

Vande Mataram Educational Trust vs Reliance Home Finance Ltd on 11 March, 2024

Author: Lisa Gill

Bench: Lisa Gill

SUNIL

233 2024:PHHC:034365-DB
IN THE HIGH COURT OF PUNJAB AND HARYANA AT
CHANDIGARH

CWP-25054-2021 (O&M)
Date of Decision: 11.03.2024

VANDE MATARAM EDUCATIONAL TRUST

estes Petitioner(s)
Versus
RELIANCE HOME FINANCE LTD.
beens Respondent(s)
CORAM:- HON'BLE MRS. JUSTICE LISA GILL
HON'BLE MS. JUSTICE AMARJOT BHATTI
Present: Mr. Amandeep Singh Talwar, Advocate
for petitioner.
Mr. Puru Gupta, Advocate
for respondent.
36 2 2
LISA GILL, J.

1. Prayer in this writ petition is for quashing loan recall notice(s)

dated 24.08.2021 (Annexure P-11 & P-12) and notice dated 27.11.2021 (Annexure P-17) under Section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act). There is a further prayer for directing respondent to restructure loan accounts of petitioner and restraining respondent from initiating further proceedings against petitioner under SARFAESI Act.

2. Relief claimed in this writ petition is qua a private non-banking housing finance company. After arguing for some time, when faced with judgment of Hon'ble the Supreme Court in Phoenix ARC Private Limited Vs. Vishwa Bharati Vidya Mandir and others, 2022 AIR (SQ) 1045,

learned counsel for petitioner seeks to withdraw this writ petition with liberty to

2024.03.19 10:04 | attest to the accuracy and authenticity of this document

SUNIL

CWP-25054-2021 (O&M) -2-

petitioner to avail remedy/remedies available to it in accordance with provisions of SARFAESI Act. It is, however, submitted that interim relief afforded to petitioner vide orders dated 10.12.2021 and 25.05.2022, passed by this Court, may be continued.

4. Dismissed as withdrawn with liberty as aforementioned.

5. As interim orders granted to petitioner on 10.12.2021 and 25.05.2022 have continued till date, same shall enure for a period of fifteen (15) days from receipt of certified copy of this order, in order to enable petitioner to avail appropriate remedy as may be available to it in accordance with law. In case appropriate application/petition is filed by petitioner accompanied with requisite application(s), question of continuance or otherwise of interim order in favour of petitioner shall be in realm of consideration by appropriate forum which be considered and adjudicated upon in accordance with law without being influenced by any order(s), which may have been passed in this writ petition. It is clarified that interim order shall not enure after the period of aforesaid fifteen (15) days in the absence of appropriate order by competent authority/Tribunal in accordance with law.

6. It is further clarified that there is no expression of opinion on the

merits of matter.

(LISA GILL) JUDGE (AMARJOT BHATTI) JUDGE 11.03.2024 Sunil

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