SARFAESI Act : Bombay High Court

Mr_Nageshwar_Rao_S_O_Rajshekhara_vs_Collector_Collector_Office_on_17_March_2023The Bombay High Court passed a order on 17 March, 2023.This was seen in the case of. Mr. Nageshwar Rao S/O Rajshekhara vs Collector, Collector Office 762/2022 and the case was presided over by Hon’ble Justice Vinay Joshi, Vrushali V. Joshi. 


In this case petitioner purchases a flat, whilst respondent M/s. Swapnil Promoters and Developers Pvt. Ltd. is builder who has developed and constructed apartment in the name and style as Swapnil Trisha Apartment . Petitioners have purchased respective residential flat from respondent Developer under registered agreement to sell and power of attorney. Some of the petitioners have availed loan for purchasing respective flats. On the basis of registered agreements, revenue entries have been taken as well as the electric meters were obtained in their name. Learned counsel for petitioners would submit that the petitioners are bonafide purchasers for value and possession was delivered to them on payment of valuable consideration..


The petitioners have approached in writ jurisdiction. The law in this regard is well settled in above decisions specially in case of Satyawati (supra), exposing a proposition that statutory remedy has to 20 4wp762.22.odt exhaust first instead of filing writ petition. Therefore, we are not inclined to interfere into the impugned order which flows from the action taken by the secured creditor under Section 13 of the SARFAESI Act. In view of above, the writ petition is dismissed with liberty to the petitioners to take out appropriate proceeding before the DRT, if so advised. We are continuing the interim protection for the period of four weeks from today in order to enable the petitioners to apply for suitable orders before the DRT. Since the petitioners were before this Court up- till-now, if the petitioners apply to the DRT within one month, the same shall not be refused on the ground of bar of limitation. All questions of law and fact remain open for consideration in any application made by the aggrieved before the statutory forum under the SARFAESI Act..

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