C/SCA/2012/2026 ORDER DATED: 13/02/2026 IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CIVIL APPLICATION NO. 2012 of 2026 ========================================================== M/S J K PLYWOOD AND HARDWARE & ORS. Versus SAMMAN CAPITAL LIMITED (FORMERLY KNOWN AS INDIABULLS HOUSING FINANCE LIMITED) & ORS. ========================================================== Appearance: RITESH D PATADIA(6460) for the Petitioner(s) No. 1,2,3 MR V.M. GOHIL, ADVOCATE for respondent No.1 & 2 MR PR ABICHANDANI(102) for the Respondent(s) No. 3,4 ========================================================== CORAM:HONOURABLE MR. JUSTICE ANIRUDDHA P. MAYEE Date : 13/02/2026 ORAL ORDER 1. By the present writ petition, the petitioner is praying for a relief to stay the action of the respondent No.1- Bank to take possession of the secured assets on 14.02.2026, so as to enable them to exercise their rights of appeal under Section 18 of the SARFAESI Act, 2002. 2. Learned advocate for the petitioners submits that the learned Court Commissioner has issued notice dated 28.01.2026 for taking physical possession of the secured assets on 14.02.2026. It is submitted that the petitioners had already preferred Securitization Application No. 691 of 2025. The prayer for interim relief was taken up for hearing on 11.02.2026. By the impugned order dated 11.02.2026, the p. 1 C/SCA/2012/2026 ORDER DATED: 13/02/2026 learned DRT-II Ahmedabad has refused the prayer for interim relief. He further submits that though the impugned order was passed on 11.02.2026, it was made available on-line on 12.02.2026. Learned advocate for the petitioners further submits that the petitioners have only one day’s time to 3le an appeal before the Debts Recovery Appellate Tribunal (DRAT) challenging the impugned order. He submits that some interim relief be granted to the petitioners so as to exercise their rights of appeal before the DRAT. 3. Per contra, learned advocate Mr. V.M. Gohil appearing on behalf of the respondent No.1- Finance Bank submits that total outstanding dues of the petitioners are about Rs. 48.71 lakhs. He submits that the petitioners have defaulted in payment of its installments and therefore to recover its dues, the respondent No.1 has initiated proceedings under the SARFAESI Act. Learned advocate further submits that no such indulgence be granted and the respondent No.1-Bank be permitted to take possession of the secured assets. 4. Considering the submissions and the fact that the impugned order refusing the interim relief has been passed only on 11.02.2026 and the copy thereof has been made available on-line on 12.02.2026, this Court is of the considered opinion that the petitioners be granted p. 2 C/SCA/2012/2026 ORDER DATED: 13/02/2026 protection for a period of two weeks from today so as to enable them to 3le an appeal and get the appeal listed for urgent hearing on interim relief before the Debts Recovery Appellate Tribunal. It is, therefore, directed that the respondent No.1- Bank shall defer taking of the possession of the secured assets in question till 27.02.2026. In the meantime, the petitioners shall be at liberty to 3le an appropriate appeal before the learned Debts Recovery Appellate Tribunal. 5. It is made clear that this interim protection is granted in the interest of justice to enable the petitioners to get an opportunity of mentioning the case before the learned Debts Recovery Appellate Tribunal for the interim relief. If the petitioners are unable to get the appeal listed for hearing or if no interim relief is granted in favour of the petitioners in the said appeal, the respondent- Bank shall be at liberty to take the possession of the secured property in question immediately. 6. It is also made clear that this Court has not gone into the merits of the case and no opinion is expressed thereon. The learned Debts Recovery Appellate Tribunal shall decide the appeal of the petitioners on its own merits and in accordance with law. Page 3 of 4 C/SCA/2012/2026 ORDER DATED: 13/02/2026 7. The Special Civil Application is entertained only to the aforesaid extent and disposed of accordingly. Direct service today is permitted. (ANIRUDDHA P. MAYEE, J.) SALIM/ p. 4 Original copy of this order has been signed by the Hon'ble Judge.