JASRAJ RESTAURANTS PVT. LTD. Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) The petitioners are auction purchasers and they have filed this writ petition, seeking specific directions against respondent Nos.2 and 5, to ensure that physical possession of the subject land and structure at Gat No.2126, Survey No.101, Hissa No.4A, Village Nagaon, Taluka Alibag, District Raigad, is handed over to the petitioners. The petitioners purchased the said property, which was a secured asset of the respondent No.2 - bank (secured creditor), as part of the proceedings undertaken by respondent No.2 - bank, as per the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the said Act). It is the case of the petitioners that despite sale certificate issued in favour of petitioner No.1, way back on 26/7/2021, which was registered on 15/12/2021, till date, the physical possession of the said property has not been handed over to the petitioners.

(2.) Respondent Nos.3 and 4 are the borrower and guarantor in respect of credit facilities availed by respondent No.3 from respondent No.2 - bank. The prayers made in the present writ petition have been resisted only by respondent Nos.3 and 4. Respondent No.2 - bank, as secured creditor, appeared through counsel and supported the prayers made in the writ petition. Respondent Nos.1, 5, 7 and 8 - State authorities are represented by the learned AGP. Respondent No.6 is the Sarpanch of Nagaon Gram Panchayat and none has appeared on behalf of the said respondent.

(3.) While opposing the prayers made in the present writ petition, respondent Nos.3 and 4 have principally raised objection with regard to maintainability of the writ petition, stating that the reliefs sought therein cannot be claimed at the behest of the petitioners, who are auction purchasers and that only respondent No.2 - bank (secured creditor) could maintain such a writ petition. Before examining the rival contentions, a brief reference to the relevant facts would be appropriate.