Hiren Maganlal Khunt & 4 Other(S) vs Authorized Officer, A U Small Finance Bank Limited & 1 Other(S)

Ashutosh J. Shastri, J

The present petition under Articles 226 and 227 of the Constitution of India is filed for the purpose of seeking following reliefs :

“A) YOUR LORDSHIP may admit and allow this Special Civil Application.

B) Your Lordships may be pleased to issue writ of mandamus and be pleased to direct the respondent No 1 bank to maintain status qua as on date.

C) Your Lordships may be pleased to issue a writ of certiorari or any other appropriate writ, order or direction quashing and setting-aside the order

dated 29-07-2020 passed by the Resp. No. 2 as annexed hereinabove as Annexure-A to this petition;

D) Be pleased to declare that the order passed dated 29-07-2020 by the Resp. No 2 is defective being erroneous, without findings, without reasons,

and non considering the points of arguments and so considering the same the matter may be remanded for adjudication of all the facts in accordance

with law and the arguments canvassed and without getting prejudiced to the orders passed by the Hon'ble high court in SCA No.19536 of 2019 and till

then the respondent no.1 maintain status qua.

E) Ex-parte Ad-interim relief in terms of Para 9(A).

F) Costs of this petition are awarded.

G) Any other relief, order or direction which may be just, fit, proper and equitable in the facts and circumstances of the Petition.â€​

During the course of submission, Mr.Ritesh Patadia, learned advocate for the petitioners, under the instructions, has stated that the petitioners may

be permitted to withdraw this petition with a specific request to proceed ahead with main application i.e. Securitization Application No.625 of 2019 on

its on merits and has not called upon the Court to express any opinion merits.

In view of above submissions, the petitioners are permitted to withdraw the petition with a liberty to make appropriate request before the Debt

Recovery Tribunal to hear and dispose of main Securitization Application No.625 of 2019 on its own merits in accordance with law, after considering

the submissions made by the petitioners in that application.

It is needless to state that this Court has not expressed any opinion on merit with regard to any of the contentions of the petitioners, since the merit

is to be examined by the Debt Recovery Tribunal.

It is expected that the Debt Recovery Tribunal, in view of aforesaid submissions, shall consider the case of the petitioners as early as possible, after

granting adequate opportunity.

With these observations, the present petition stands disposed of.