EDELWISS ASSET RECONSTRUCTION COMPANY LIMITED Vs. SIDDHANT COLLECTION

JUDGEMENT

(1.) Heard learned counsel for the petitioner and learned counsel for respondent nos. 1 to 3 (borrowers). Respondent No. 4 is the auction purchaser.

(2.) The petitioner is an Asset Reconstruction Company claiming to be a secured creditor and has initiated action under the provisions of the Securitisation and Reconstruction of Financial Assets And Enforcement of Security Interest Act, 2002, against respondent Nos. 1 to 3.

(3.) The petitioner is an assignor from a non-banking finance company called HDB Financial Services. This Court is informed that respondent Nos. 1 to 3 filed a Securitisation application before the Debts Recovery Tribunal, Pune (DRT) to challenge the action undertaken by the petitioner under the provisions of the Securitisation Act. In the pending Securitisation application, respondent Nos. 1 to 3 filed interlocutory application seeking interim reliefs. The said application has been disposed of by the impugned order, with which the petitioner is aggrieved.