REGENT COMPUTRONICS PVT. LTD.

TENSILE STEEL LTD. Appellant

V/S

PUNJAB AND SIND BANK Respondents

Referred Judgements :-

UNIQUE BUTYLE TUBE INDUSTRIES (P) LTD. V/S. U.P.FINANCIAL CORPORATION AND OTHERS [REFERRED TO]
GUJARAT FISHERIES CENTRAL CO-OP. ASSOCIATION LTD. V/S. UNION OF INDIA AND OTHERS [REFERRED TO]
WARDHAMAN SHAMJIBHAI DHARAMSI AND ANOTHER V/S. BANK OF MAHARASHTRA [REFERRED TO]
MIS.DIGIVISION ELECTRONICS LTD. V/S. INDIAN BANK AND ANOTHER,W.P.NO. 13056 OF 2005 DECIDED ON 7TH JULY [REFERRED TO]
KUNDANBEN JAYANTILAL SANGHVI V/S. STATE BANK OF SAURASHTRA [REFERRED TO]
BIHAR STATE CO OPERATIVE MARKETING UNION LIMITED VS. UMASHANKARSHARAN [REFERRED TO]
ANDHRA PRADESH STATE FINANCIAL CORPORATION A P STATE FINANCIAL CORPORATION VS. GAR RE ROLLING MILLS:KOTA SUBBA REDDY [REFERRED TO]
PUNJAB NATIONAL BANK VS. O C KRISHNAN [REFERRED TO]
CENTRAL BANK OF INDIA VS. RAVINDRA [REFERRED TO]
MARDIA CHEMICALS LIMITED VS. UNION OF INDIA [REFERRED TO]
BANK OF RAJASTHAN LIMITED VS. KARAN FIBRES AND FABRICS LIMITED [REFERRED TO]
SAHIR SHAH VS. BANK OF INDIA [REFERRED TO]
KALYANI SALES COMPANY VS. UNION OF INDIA [REFERRED TO]

JUDGEMENT

(1.) Heard the learned advocates.

(2.) RULE. Learned advocates Mr.Gandhi and Mr.Mengdey waive service of rule on behalf of the concerned respondent. With the consent of the learned advocates, petition is taken up for final hearing.

(3.) The petitioners before this Court are a company incorporated under the Companies Act, 1956 and one another (hereinafter referred to as, "the Company"), the borrowers in default. The respondent No.1 is the Punjab and Sind Bank Limited (hereinafter referred to as, "the Bank"). The Bank had extended financial assistance, to the Company. The Company challenges the action of the Bank in initiating the recovery proceeding under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as, "the Act of 2002") and the order of the District Magistrate, Vadodara made on 4th January, 2005 under Section 14 of the Act of 2002.

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TENSILE STEEL LTD Vs. PUNJAB AND SIND BANK

Referred Judgements :-

JUDGEMENT

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