BHUSHAN RAMESH BRAMGANKAR Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Rule. With the consent of the parties, rule is made returnable forthwith and the Writ Petition is taken up for final disposal.

(2.) This Writ Petition is essentially a challenge to the continued assertion of rights by the State of Maharashtra against the purchaser of two properties auctioned by Respondent No. 2, State Bank of India ("SBI"), in enforcement of a mortgage created by an erstwhile owner of the properties.

(3.) For the reasons set out in this judgement, we allow the Writ Petition with appropriate directions, by reason of the entitlements conferred by Sec. 26-C read with Sec. 26-E of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI Act").