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Judgment
Heard Shri G. Agni, the learned Counsel appearing for the petitioner, Shri I. Agha, the learned Counsel appearing for the respondent no.1 and Ms. P. Kamat, the learned Additional Government Advocate appearing for the respondents no.3 & 4.
Rule. Heard forthwith with the consent of the learned Counsel. Learned Counsel appearing for the respondents waive service.
After hearing the matter for some time, the following order is passed by consent: (i) The impugned order passed under Section 14(1) of the Securitisation And Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002 (SARFAESI Act, for short) dated 23/06/2005 shall not bind only the parties to such proceedings.
(ii) The respondent no.1 is at liberty to proceed to take action against the petitioner and others in respect of the subject loan in terms of the provision of the said SARFAESI Act in accordance with law.
(iii) The petitioner shall furnish the names of all the legal representatives of the deceased Antonio Jaoa Jose Marcelo Fernandes within one week from today.
(iv) Needless to say the impugned order shall operate against other persons in accordance with law.
(v) Rule is made absolute in the above terms with no order as to costs.