O P KHANNA Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) This writ petition had come up for admission on 28.1.2004. Vide interim order passed in CM.984/04, notice was issued for 24.3.2004 and it was directed that petitioner be not dis-possessed. Further, that petitioner shall not create any third party right or part with possession of the property. The present application CM.1802/2004 has been moved by the respondent/Bank, seeking modification of order dated 28.1.2004. Accordingly, with the consent of the parties, CM.Nos.1802/04 & 984/04 are taken up for disposal.

(2.) The facts as far as they are relevant for the purposes of disposal of the present application are being noted in brief:

(3.) The question coming up before the Court is with regard to the continuance of interim order passed. Even in petitions, where the vires of the Act had been challenged before the Supreme Court, stay of dis-possession has not been granted. The order passed is that, the Bank may proceed to take possession but shall not create third party rights till the disposal of the challenge to the vires of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.