Rajasthan High Court
M/S. Divine Institute Of ... vs Pegasus Asset Reconstruction ... on 24 February, 2021
Bench: Ashok Kumar Gaur
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Civil Writ Petition No. 2171/2021
1. M/s. Divine Institute Of Information Technology, Address
22, Ganesh Nagar, First, Muralipura Scheme, Jaipur,
(Rajasthan) - 302013 Through Proprietor.
---Petitioner/Borrower
2. Shri Arjun Yadav Son Of Shri Ram Chandra Yadav, R/o 1,
Rajeev Nagar, Sector-3, Madanbari, Vidhyadhar Nagar,
Jaipur - 302023 (Raj.)
3. Smt. Godi Devi Yadav D/o Shri Ram Kumar Yadav, R/o
Plot No. 1, Rajeev Nagar, Nayakhera, Ambabari, Jaipur-
302013 (Rajasthan).
4. Shri Ram Chandra Yadav S/o Shri Balu Ram Yadav, R/o
Plot No. 1, Rajeev Nagar, Nayakhera, Ambabari, Jaipur-
302013 (Rajasthan).
----Petitioners/Co-Borrowers
Versus
Pegasus Asset Reconstruction Pvt. Ltd., Through Authorized
Signatory Shri Ramakant Pandey Corporate Office 55-56, 5Th
Floor, Free Press House, Nariman Point, Mumbai - 400021,
Registered Office 507, Dalamal House, Nariman Point, Mumbai -
400021 And Branch Office, Unit No. 106, Best Business Park,
Plot No. P-2, Netaji Subhash Palace, Opposite Fun Cinema,
Peetampura, New Delhi- 110034.
----Non Petitioner/Secured Creditor
For Petitioner(s) : Mr.R.P. Garg, Adv.
HON'BLE MR. JUSTICE ASHOK KUMAR GAUR
Order
24/02/2021
The present writ petition has been filed by the
petitioner-borrower challenging the order dated 03.12.2020
passed under Section 14 of the SARFAESI Act, 2002.
(Downloaded on 25/02/2021 at 10:23:22 PM)
(2 of 3) [CW-2171/2021]
Learned counsel submitted that the basic ingredient of
Section 13(2) of the SARFAESI Act, 2002 was not fulfilled in the
present case and yet application filed under Section 14 of the
SARFAESI Act, 2002 has been allowed.
Learned counsel for the petitioners submitted that as
per requirement of sub-Section (3A) of Section 13, the notice
under Section 13(2) of the SARFAESI Act, 2002 is required to be
served on the borrower and he has to be given the right of making
the representation or raise its objection.
Learned counsel submitted that even the application
which was filed under Section 14 of the SARFAESI Act, 2002 did
not make any averment as whether the petitioners were served
notice under Section 13(2) or not.
Learned counsel submitted that, even the description of
the property which was given, not matching with the property
which was kept as a mortgaged property.
Learned counsel submitted that there is whole some
breach of principles of natural justice and in most arbitrary
manner, the impugned order dated 03.12.2020 has been passed.
Learned counsel submitted that at one point of time,
even the petitioners were prepared to pay the installments after
reducing the amount as originally agreed between the parties and
the petitioners offered some amount but the same was not
accepted by the system of the Bank due to technical reason.
Learned counsel further submitted that only on account
of such non-payment of two installments, accounts of the
petitioners were declared Non-Performing Assets (NPA) and
accordingly, the respondents have undertaken the illegal exercise
invoking the power given under the SARFAESI Act, 2002.
(3 of 3) [CW-2171/2021]
This Court is afraid to accept submissions made by
learned counsel for the petitioners that the order under Section 14
of the SARFAESI Act, 2002 can be interfered by this Court under
Article 226 of the Constitution of India. The Apex Court in the case
of C. Bright Vs. The District Collector and Ors. (Civil Appeal
No.3441/2020) decided on 05.11.2020 has recently again
reiterated the principle that the High Courts should not entertain
the writ petition where the proceedings under the SARFAESI Act,
2002 are challenged.
This Court in view of the judgment passed by the Apex
Court in the case of C. Bright Vs. The District Collector and Ors.
(supra) is not inclined to accept the present writ petition and the
same is accordingly dismissed.
However, the petitioners have other remedy under the
law and they are always free to avail the same.
(ASHOK KUMAR GAUR), J
Himanshu Soni/Sakshi/23
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