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Judgment
Arun R. Pedneker, J
Heard.
Mr. Sachin S. Deshmukh, learned counsel for the petitioner submits that the properties of the borrowers are also attached in the matter and that the sale of the properties of guarantor may not be necessary. Today is the date fixed for taking up physical possession of the properties of the guarantor.
In view of the same, Respondent No.4 – Bank is permitted to take notional possession of the properties of the petitioner / guarantor and proceed with the other requirements of law. The petitioner’s to also give undertaking that in the event he suffers adverse order in the present petition, he will hand over the physical possession of the property to the Bank.
Issue notice to the respondents, returnable on 05.12.2023. The learned AGP wavies notice for the State Authorities.
Ad interim relief is granted to the extent of taking physical possession of the petitioner’s properties as described in prayer clause “D” of the petition is stayed, subject to the petitioner giving undertaking within two (02) weeks that in the event he suffers any adverse order, he will hand over the physical possession of the property to Respondent N.4 – Bank. The interim order of this court would be subject to the final outcome of this petition.
The Respondent No.4 – Bank is also permitted to proceed with the remaining compliances as required under the law for auction of the property.
List this matter on 05.12.2023.
The prayer for interim relief will also be taken up for further consideration after notice to the respondents.
Parties to act upon the authenticated copy of this order.