The High Court · 2009
Case at a glance
Outcome
Disposed of
the parties, this writ petition is disposed of with a direction that the
Provisions considered
Key paragraphs
- Para 11. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? SURYA KANT, J. [ORAL) The petitioner seeks a Mandamus to permit him to…
Judgment
through Mr. K.S.Rekhi, Advocate Versus ICICI Bank Limited ...Respondent through Mr. Sandeep Suri, Advocate. CORAM: HON'BLE MR. JUSTICE SURYA KANT.
Operative part
Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? SURYA KANT, J. [ORAL) The petitioner seeks a Mandamus to permit him to sell his property situated near Malwa Quila, Rehamatgarh, Cold Store Naba Road, Malerkotla, District Sangrur which is a `secured asset'. The petitioner wants to dispose of the said property to discharge its loan liability. Notice of motion was issued and in response thereto, the respondent Bank has put in appearance. Learned counsel for the respondent Bank submits that they have no objection against disposal of the `secured assets' by the petitioner, provided that the sale takes place through a tripartite agreement. The petitioner has no objection to that. In view of the agreed stand taken by learned counsel for the parties, this writ petition is disposed of with a direction that the petitioner may find out a prospective buyer for the sale of his mortgaged property on or before 31.07.2009 and may enter into a Tripartite Agreement, to which the respondent Bank shall also be a party. It is directed that the sale consideration including earnest money, if any, shall be directly paid to the Bank to the extent of its loan liability. In case the petitioner fails to find out the buyer within the stipulated period, the respondent Bank shall be at liberty to take recourse to the provisions of Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Disposed of. Dasti. March 30, 2009. dinesh ( SURYA KANT ) JUDGE
Questions this judgment answers
What did the Court decide in this case?
The Court recorded the following disposition: the parties, this writ petition is disposed of with a direction that the
Which statutory provisions did this judgment involve?
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Which court decided this case, and when?
Punjab & Haryana High Court, on 30 Mar 2009. The bench was SURYA KANT.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.