{"id":33206,"date":"2008-10-08T00:00:00","date_gmt":"2008-10-07T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/smital-vs-anyonya-on-8-october-2008"},"modified":"2015-05-17T12:40:17","modified_gmt":"2015-05-17T07:10:17","slug":"smital-vs-anyonya-on-8-october-2008","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/smital-vs-anyonya-on-8-october-2008","title":{"rendered":"Smital vs Anyonya on 8 October, 2008"},"content":{"rendered":"<div class=\"docsource_main\">Gujarat High Court<\/div>\n<div class=\"doc_title\">Smital vs Anyonya on 8 October, 2008<\/div>\n<div class=\"doc_author\">Author: Mr. K.S.Radhakrishnan,&amp;Nbsp;Honourable Kureshi,&amp;Nbsp;<\/div>\n<pre>   Gujarat High Court Case Information System \n\n  \n  \n    \n\n \n \n    \t      \n         \n\t    \n\t\t   Print\n\t\t\t\t          \n\n  \n\n\n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t \n\t\n\n\n \n\n\n\t \n\nLPA\/73920\/2008\t 2\/ 2\tORDER \n \n \n\n\t\n\n \n\nIN\nTHE HIGH COURT OF GUJARAT AT AHMEDABAD\n \n\n \n\n\n \n\nLETTERS\nPATENT APPEAL No. 739 of 2008\n \n\nIn\n SPECIAL CIVIL APPLICATION No. 8981 of 2008\n \n\nWith\n\n\n \n\nCIVIL\nAPPLICATION No. 8633 of 2008\n \n\nIn\nLETTERS PATENT APPEAL No. 739 of 2008\n \n\n \n=========================================\n\n\n \n\nSMITAL\nLAND DEVELOPERS - Appellant(s)\n \n\nVersus\n \n\nANYONYA\nCOOPERATIVE BANK LTD &amp; 1 - Respondent(s)\n \n\n=========================================\n \nAppearance : \nMR\nNK MAJMUDAR for Appellant(s) : 1, \nMR KM PARIKH for Respondent(s) :\n1 - 2. \n=========================================\n\n\n \n\t  \n\t \n\t  \n\t\t \n\t\t\t \n\nCORAM\n\t\t\t: \n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tTHE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN\n\t\t\n\t\n\t \n\t\t \n\t\t\t \n\n \n\n\t\t\t\n\t\t\n\t\t \n\t\t\t \n\nHONOURABLE\n\t\t\tMR.JUSTICE AKIL KURESHI\n\t\t\n\t\n\n \n\nDate\n: 08\/10\/2008 \n\n \n\nORAL\nORDER<\/pre>\n<p>(Per<br \/>\n: HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN)<\/p>\n<p>\tThe<br \/>\npetitioner preferred the writ<br \/>\npetition seeking a writ of mandamus directing the respondents not to<br \/>\ntake further proceedings under the Securitisation and Reconstruction<br \/>\nof financial Assets and Enforcement of Security Interest Act, 2002<br \/>\n(for brevity `the Securitisation Act&#8217;) on the ground that the<br \/>\nprovisions of the Securitisation Act cannot be invoked in case of a<br \/>\nco-operative bank.\n<\/p>\n<p>\tThe<br \/>\nissue is settled by the Apex Court in the case of Greater Bombay<br \/>\nCo-op. Bank Ltd. Vs. United Yarn Tex (P) Ltd. and others (2007) 6 SCC<br \/>\n236 that under Section 2(c)(v) of the Securitisation Act, a<br \/>\nco-operative bank is also covered by the provisions of the<br \/>\nSecuritisation Act as specified by Notification dated 28.01.2003.\n<\/p>\n<p>\tThat<br \/>\nbeing the situation, the prayer sought by the petitioner cannot be<br \/>\naccepted.\n<\/p>\n<p>\tLearned<br \/>\ncounsel appearing for the co-operative Bank also submitted that if<br \/>\nthe petitioner desires to take the benefit of one-time settlement<br \/>\nscheme, he can make a proposal on or before 31.10.2008.  Accordingly,<br \/>\nwe direct the respondents that if a proposal comes from the<br \/>\npetitioner for a one-time settlement on or before 31.10.2008, the<br \/>\nsame may be considered by the authorities in accordance with law and<br \/>\nwhatever amount deposited by the petitioner be given credit to the<br \/>\npetitioner by the Co-operative Bank.\n<\/p>\n<p>\tWith<br \/>\nthe aforesaid observation, the Letters Patent Appeal and the Civil<br \/>\nApplication stand disposed of.  Interim relief, if any, stands<br \/>\nvacated.  Notice is discharged.\n<\/p>\n<p>(K.S.\n<\/p>\n<p>RADHAKRISHNAN, C.J.)<\/p>\n<p>(AKIL<br \/>\nKURESHI, J.)<\/p>\n<p>[sn<br \/>\ndevu] pps <\/p>\n<p>\t\t   \u00a0\u00a0\u00a0<\/p>\n<p>\t\t   Top<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gujarat High Court Smital vs Anyonya on 8 October, 2008 Author: Mr. K.S.Radhakrishnan,&amp;Nbsp;Honourable Kureshi,&amp;Nbsp; Gujarat High Court Case Information System Print LPA\/73920\/2008 2\/ 2 ORDER IN THE HIGH COURT OF GUJARAT AT AHMEDABAD LETTERS PATENT APPEAL No. 739 of 2008 In SPECIAL CIVIL APPLICATION No. 8981 of 2008 With CIVIL APPLICATION No. 8633 of 2008 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,8],"tags":[],"class_list":["post-33206","post","type-post","status-publish","format-standard","hentry","category-gujarat-high-court","category-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Smital vs Anyonya on 8 October, 2008 - Free Judgements of Supreme Court &amp; 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