CHIEF MANAGER CUM AUTHORIZED Vs. RAJESH KUMAR AGRAWAL

JUDGEMENT

(1.) Plenary jurisdiction of this Court under Article 226 and 227 of the Constitution of India has been invoked by the Chief Manager-cum-Authorized Officer, Union Bank of India (Opposite Party No.1) assailing order dtd. 14/12/2023 at Annexure-8 passed in Misc. Case No.31 of 2023 arising out of C.C. No.91 of 2023 by District Consumer Commissioner, Jharsuguda in exercise of its power U/s.38(8) of the Consumer Protection Act, 2019 (hereinafter referred to as "C.P. Act") thereby directing the Petitioner-Bank not to proceed for the auction of secured assets which was being undertaken in terms of the provisions contained in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Rule 8 of the Security Interest (Enforcement) Rules, 2002.

(2.) The brief facts germane for just adjudication are indicated as under;

(3.) It would be apposite to quote the reasoning of the District Consumer Redressal Commission in granting the ex-parte interim order;