VARUN ROSHAN KOHLI Vs. UNION OF INDIA

JUDGEMENT

(1.) The petitioner prays for a direction on the respondent State Bank of India to abide by a Letter of Arrangement dtd. 28/6/2021 and give effect to the same. The petitioner prays for a consequential order on the Bank to give the benefit of the said Letter of Arrangement to the petitioner. The petitioner was served with notices from April, 2022 under Sec. 13(2) and 13(4) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) and the petitioner has filed an appropriate application before the Debts Recovery Tribunal (DRT), Kolkata. The parties are contesting the said proceedings.

(2.) The respondent Bank, through its learned counsel, takes the point of maintainability of the writ petition on the ground of the petitioner having challenged the impugned notice under the provisions of 2002 Act by invoking the writ jurisdiction of this Court which cannot be done according to the respondent. Counsel submits that the Bank has also filed proceedings under Sec. 19 of The Recovery of Debts and Bankruptcy Act, 1993 before the DRT, Kolkata and that the issues raised by the petitioner in this writ petition can be urged by the parties before the DRT.

(3.) Learned counsel appearing for the petitioner opposes the issue of maintainability on the ground that the petitioner has restricted his prayer only to the Letter of Arrangement/restructuring dtd. 28/6/2021 which the Bank had suppressed from the petitioner at the material point of time.