SANJAY Vs. KOTAK MAHINDRA BANK LTD

JUDGEMENT

(1.) The above writ petition is filed inter alia seeking an order and direction to quash and set aside the order dated 6 th February, 2018 passed by the District Magistrate under Sec. 14 of the SARFAESI Act, 2002. Pursuant to this order, the Petitioners, who claim to be the auction purchasers of the mortgaged property from the Respondent No.2 Bank (Baramati Sahakari Bank Ltd), were dispossessed. It is not in dispute that physical possession of the mortgaged property is currently with the Respondent No.1 Bank (Kotak Mahindra Bank Ltd) pursuant to the order passed under Sec. 14 of the SARFAESI Act, 2002.

(2.) Initially the present writ petition was filed because the Debt Recovery Tribunal, Pune, who would have jurisdiction to entertain any application in the present matter, was not available. It is in these circumstances, that the present writ petition was filed.

(3.) Now, the Debt Recovery Tribunal, Pune is available. In these circumstances, the learned counsel appearing on behalf of the 1 st Respondent Bank submitted that there is an equally efficacious alternate remedy available to the Petitioner and therefore this writ petition ought not to be entertained and the Petitioner be relegated to avail of the alternate remedy.