M/s A.S. Nutratech Pvt. Ltd. Vs. Central Bank of India – Chhattisgarh High Court
September 30, 2022
The Petitioner/company borrowed loan from the Respondent/Bank. Both the loan accounts of the Petitioner were declared as NPA. Notice under Section 13(2) of the SARFAESI Act, 2002 has also been served on the Petitioner on 10.4.2018. Symbolic possession of the premises of the Petitioner/company has also been taken by the Respondent/Bank as contained in Rule 8(1) of the Rules of 2002. In compliance of Rule 8(6) of the Rules of 2002, sale notice for the sale of immovable properties has also been served on the Petitioner. Thus, it is well established that the proceeding under the Act of 2002 has already been drawn against the Petitioner. Though the Petitioner has not challenged in the instant petition any of the proceedings pending under the Act of 2002, the fact remains that the proceedings have already been drawn against the Petitioner under the Act of 2002. Therefore, the Petitioner/company has the only remedy available to approach the DRT as contained in Section 17 of the Act of 2002. Thus, it is held that the instant writ petition filed under Article 226 of the Constitution of India is not maintainable before this Court.
