Uttarakhand High Court

Ms. Priyanka Agrawal vs Unknown on 10 May, 2024

Author: Rakesh Thapliyal

Bench: Rakesh Thapliyal

                      Office Notes,
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      10.05.2024                        WPMB No. 167 of 2024

                                        Hon'ble Ritu Bahri, C.J.

Hon'ble Rakesh Thapliyal, J.

1. Ms. Priyanka Agrawal, learned counsel for the petitioner.

2. Counsel for the petitioner has referred to a judgment passed by the Division Bench of Mumbai High Court in UCO Bank, Mumbai Vs M/s Kanji Manji Kothari and Co. Mumbai, 2008 (4) Mh.L.J. 424, where it has been held that if there are sufficient reasons to explain the delay, the delay can be condoned in a proceedings under Section 17(1) of SARFAESI Act.

3. She further states that along with the securitization application, delay condonation application for condoning the delay of 56 days has also been filed. In the application seeking condonation of delay it has been mentioned that the petitioner was not medically well and had placed on record the necessary explanation. Along with the application, counsel for the petitioner has referred to the application for condonation of delay, in which at Paras 3 and 4 reasons for condonation of delay has been given. She further states that said application was decided after hearing the matter for 17 dates.

4. Counsel for the petitioner further states that she has got instructions that the petitioner is ready to make payment of his share of the loan amount which comes to 24% to the bank in installments. The petitioner had already given an application dated 20.03.2024 in this regard (Annexure

18).

5. Notice of motion, including dasti.

6. In the meantime, before the next date of hearing, petitioner will deposit at least rupees ten lakhs with the Bank, and till then no coercive steps shall be taken against the petitioner keeping in view the fact that he has only an interest to the extent of 24% in the company.

7. List the matter on 30.07.2024.

(Rakesh Thapliyal, J.) (Ritu Bahri, C.J.) 10.05.2024 10.05.2024 Negi