Court No. - 27 Case :- MISC. BENCH No. - 832 of 2010 Petitioner :- Bharat Bhushan S/O Hari Prasad Respondent :- Maha Prabandhak, Alllahabad Bank,Mukhya Karyalaya & Anr. Petitioner Counsel :- N.P. Mishra Respondent Counsel :- M.U. Singh Hon'ble Devi Prasad Singh,J.
Hon’ble S.C. Chaurasia,J.
Heard learned counsel for petitioner and the counsel for respondent-Bank.
Counter affidavit filed by respondents is taken on record.
It has been stated by the learned counsel for respondents that sale has already
been confirmed. Petitioner has an alternative remedy under Section 17 of The
Securitisation And Reconstruction Of Financial Assets And Enforcement Of
Securities Interest Act, 2002.
Keeping in view the statutory remedy available to the petitioner, no
interference is called for extraordinary jurisdiction under Article 226 of the
Constitution of India. However, liberty is given to the petitioner to prefer an
appeal within one month. In case appeal along with application for stay is
filed, the appellate authority shall consider the same in accordance to law by a
speaking and reasoned order expeditiously and preferably within one month
thereafter.
For the period of two months or till the disposal of petitioner’s grievance,
whichever is earlier, status-quo shall be maintained as exists today.
Subject to above, the writ petition is disposed of finally.
Order Date :- 2.2.2010
psd