RAVI ARYA Vs. PAWAN ATYA

JUDGEMENT

(1.) The Applicant has filed the above Interim Application seeking to set aside order dtd. 11/6/2024 and 19/6/2024 passed by the Additional Prothonotary & Senior Master of this Court of allowing the Third Party Application filed under Rule 268 of the Bombay High Court (Original Side) Rules, 1980 (the "OS Rules"), directing issuance of certified copy of the proceedings in Writ Petition No. 2545 of 2021 (the "Writ Petition") to the third party Applicant viz. the Respondent herein.

(2.) Mr. Nankani, learned Senior Counsel for the Applicant has submitted that the order dtd. 11/6/2024 is liable to be set aside on the following grounds:-

(3.) The facts are that the Respondent had filed Third Party Application (L) No. 6221 of 2024 seeking certified copies of the records and proceedings of the above Writ Petition on the premise that the Respondent is a former director of International Marine Trading Company Pvt. Ltd. ("IMTC"), which had sought a term loan facility from Bank of Baroda, the Respondent No. 2 in the Writ Petition. The account of IMTC was declared a Non Performing Asset (NPA) by the Bank and proceedings were initiated against IMTC under the Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (the "SARFAESI Act") and proceedings were also initiated against the directors of the IMTC to declare the directors as willful defaulters in terms of Master Circular dated 1 st July, 2015 on willful defaulters issued by the Reserve Bank of India (the "Master Circular"). The Reserve Bank of India (the "RBI") is the Respondent No. 1 in the Writ Petition.