MS COSMOLINE INDUSTRIES PVT LTD v. PUNJAB NATIONAL BANK
WPMS/1911/2025 · 2025-10-31
Manoj Kumar Tiwari
body2025
DailyLaw.ai
[ 2025 DAILYLAW 14464 (UTT) · dailylaw.ai ]
DailyLaw.ai
[ 2025 DAILYLAW 14464 (UTT) · dailylaw.ai ]
Judgment text
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2025:UHC:9665 SL. No. Date Office Notes, reports, orders or proceedings or directions and Registrar’s order with Signatures COURT’S OR JUDGE’S ORDERS
WPMS 1911/2025 WPMS 911/2025
Hon’ble Manoj Kumar Tiwari, J.
Mr. Shashank Pandey, Advocate, for the petitioner.
Mr. Siddhartha Jain, Advocate, for the respondent no. 1 and 2.
Dr. Ajar Rab, Advocate, for the respondent no. 3.
(2) Petitioner is challenging a sale notice issued by Punjab National Bank under Section 13(4) of the SARFAESI Act read with Rule 8(6) of the Security Interest (Enforcement) Rules, 2002.
(3)
Learned Counsel appearing for the lending bank submits that petitioner has remedy of approaching Debts Recovery Tribunal under Section 17 of SARFAESI Act, therefore these writ petitions would not be maintainable.
(4) This Court finds substance in the said submission. Since petitioner has remedy of filing securitisation application before the DRT under Section 17 of the SARFAESI Act, therefore, writ petitions are
disposed of with liberty to the petitioner to move appropriate application before the DRT. The borrower shall also be at liberty to move application for impleadment in the pending securitisation application. If petitioner moves application before the DRT, the same shall be considered objectively, uninfluenced by any observation made in the earlier order.
(Manoj Kumar Tiwari, J.)
31.10.2025 Pr PRABODH KUMAR Digitally signed by PRABODH KUMAR DN: c=IN, o=HIGH COURT OF UTTARAKHAND, ou=HIGH COURT OF UTTARAKHAND, 2.5.4.20=3a082a00a95aff911a9559743af8f21c50602ff6eae4e61af3aeab198d462503, postalCode=263001, st=UTTARAKHAND, serialNumber=0DC111E8D8CA66E16B940EFDF806ACCC1AB588052DF6FCA58C67F3C91957BE53, cn=PRABODH KUMAR Date: 2025.11.03 09:32:26 +05'30'
2025:UHC:9665