SUBIR DAS Vs. STATE OF WEST BENGAL

JUDGEMENT

(1.) The present intra-court appeal challenges the justifiability of the order dated October 28, 2024, passed in WPA 26412 of 2024. To provide clarity on the origin of the dispute that has led to this appeal, it would be prudent to quote the impugned order in its entirety, which is reproduced below:

(2.) Mr. Gupta, the learned Senior Advocate appearing in support of the appeal, submits that since the learned Single Bench refused to grant the interim order as prayed for, the appellants have been compelled to prefer this appeal. He further submits that the Digha Shankarpur Development Authority (DSDA) owns the property in question, the leasehold rights to which were granted to the petitioners. The appellants, having created an equitable mortgage on the leasehold interest, secured financial assistance from the bank. However, the loan account was declared a Non- Performing Asset (NPA), and proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The appellants challenged this action by filing an application before the Debt Recovery Tribunal (DRT), which remains pending for final adjudication.

(3.) He further submits that, during the pendency of that application, the bank issued notices under Sec. 13(2) and Sec. 13(4) of the SARFAESI Act. The appellants also challenged these actions of the bank by filing an application before the DRT. He asserts that, although the bank has never obtained possession of the property, it initiated action under Sec. 14 of the Act but failed to acquire possession of the property. He submits that, ultimately, the issue has been brought before this Court by filing an application under Article 227 of the Constitution of India, which is also awaiting final adjudication. According to him, the appellants' rights are sub-judice.