ASSISTANT PROVIDENT FUND COMMISSIONER Vs. VIJAYA BANK

JUDGEMENT

(1.) CM No.20686/2016 (for exemption). Allowed, subject to just exceptions.

(2.) The application stands disposed of. W.P.(C) No. 4970/2016 & CM No. 20687/2016 (For Stay).

(3.) The petition impugns the E-Auction Sale Notice dated 20th April, 2016 of the respondent no. 1 Vijaya Bank (Bank), in pursuance to the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, of the two properties at Noida of the respondent no. 3 M/s. G.K. Products Pvt. Ltd. and respondent no. 4 M/s. Well Computer Exim Pvt. Ltd. (Companies) who had stood as guarantors for the financial assistance granted by the respondent no.1 Bank to the respondent no. 2 Creative Home Fashions Pvt. Ltd. (Company). The respondents no. 5 to 9 are stated to be Directors in each of the respondents no. 2 to 4 Companies.