UNIQUE COAL COMPANY Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) The present writ petition has been filed for quashing the order dtd. 12/6/2018 (Annexure-3 to the writ petition) passed by the District Magistrate, Dhanbad in SARFAESI Case No. 16/2018 allowing the application filed by the respondent-Bank under Sec. 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act, 2002'). Further prayer has been made for issuance of direction upon the respondent No.4 to consider the petitioner's application/representation for regularization/settlement of its loan account bearing No. 36900600000480.

(2.) Mr. P. S. A. S. Pati, learned counsel appearing on behalf of the respondent- Bank, raises preliminary objection with regard to maintainability of the present writ petition and submits that the petitioner has filed the same without availing alternative/statutory/efficacious remedy of preferring an application under Sec. 17 of the Act, 2002 before the Debts Recovery Tribunal, Ranchi against the impugned order dtd. 12/6/2018.

(3.) Since learned counsel for the respondent-Bank has raised the issue of maintainability of the writ petition, it would be appropriate to refer the judgments of the Hon'ble Supreme Court on the said aspect.