PRIDHVI ASSET RECONSTRUCTION AND SECURITISATION COMPANY LIMITED Vs. ADDITIONAL COMMISSIONER (RECOVERY) CENTRAL EXCISE DEPARTMENT, MUMBAI-I

JUDGEMENT

(1.) By this Writ Petition, the Petitioner is seeking quashing and setting aside of the impugned Letters dtd. 15/2/2010; 25/4/2012; 23/1/2014 and 26/8/2015 which had been issued by the Deputy Commissioner (Recovery) of Central Excise Department, Mumbai - I and which are being enforced by Respondent No.1 - Additional Commissioner (Recovery) Central Excise Department, Mumbai-I.

(2.) The Petitioner is an Asset Reconstruction Company incorporated under the Companies Act, 1956 and registered under Sec. 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act'). The Respondent No.1 as aforementioned is enforcing the impugned Letters which were intimated to Respondent No.2 i.e. a Co-operative Housing Society under the Maharashtra Co-operative Housing Societies Act, 1960, directing the Respondent No.2 - Society not to permit any transfer or sale of (i) residential Flat No.11-A, 11th Floor, admeasuring 1631 Sq. yards, in Vidya Apartments, Vidya Nivas Co- operative Housing Society Limited, Plot No.2, Siri Road, bearing C.S. No.392 and 1/391 of Malabar and Cumballa Hill Division and S.No.:7298; and (ii) basement property admeasuring 6274 Sq.ft., in Vidya Apartments, Vidya Nivas Co-operative Housing Society Limited, Plot No.2, Siri Road, bearing C.S. No.392 and 1/391 of Malabar and Cumballa Hill Division and S.No.:7298 (hereinafter referred to as 'the said premises').

(3.) The relevant facts are as under: