PUNJAB NATIONAL BANK Vs. UNION OF INDIA

JUDGEMENT

(1.) We have heard Shri Tarun Verma, learned counsel for the petitioner and Shri Ajai Bhanot, learned counsel appearing for respondent nos. 1, 2 and 3.

(2.) By means of the present writ petition, the petitioner Punjab National Bank, Ghaziabad has sought a writ, order or direction in the nature of certiorari quashing the letter/communications dated 27-11-2007 and 15-1-2008 issued/passed by the Assistant Commissioner (Legal), Customs & Central Excise, Commissionerate, Ghaziabad, respondent no. 3, filed as annexure no. 3 and 5 to the writ petition as also for quashing the Order-in-Original No. 15/Commr./ GZB/2007 dated 26-3-2007 and Order-in-Original No. 20/Commr/GZB/2007 dated 29-3-2007 passed by the Comissioner, Customs & Central Excise, Ghaziabad, U.P., respondent no. 2, against M/s. Rathi Ispat Limited, respondent no. 4, in so far it directs for confiscation of mortgaged/hypothecated property of respondent no. 4 (annexure nos. 1 and 2 to the writ petition). A further writ, order or direction in the nature of prohibition has been sought restraining the respondents (first set) in interfering in any manner with the proceedings for sale under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Act") in respect of the mortgaged/hypothecated property of the respondent no. 4.

(3.) Briefly stated the facts giving rise to the present petition are as follows.