Tarsem Singh Vs. State Bank of India Through the Chief Manager Sarc and ors - Court Judgment

Excerpt:
in the high court of jharkhand at ranchi w.p. (c) no. 3049 of 2013 --- tarsem singh --- --- ---- petitioner versus the state bank of india & others --- --- --- respondents --- coram: the honble mr. justice aparesh kumar singh for the petitioner: mr. sanjay kr. chaturvedi, advocate for the sbi: mr. rajesh kumar, advocate --- i.a. no. 3435/2013 02/ 19.06.2013 the instant interlocutory application has been preferred for fixing an early date of hearing under the heading for fresh filing on the apprehension that the respondent bank would institute criminal case against the petitioner and would seek forfeiture of the vehicle taken by the petitioner on loan by engaging private enforcement agency. counsel for the respondent bank however vehemently disputed the aforesaid apprehension stating that all actions for realization of the outstanding dues of the petitioner would be taken in accordance with law and the provisions of the sarfaesi act, 2002. counsel for the petitioner submits that the petitioner may also be allowed to liquidate the amount in the meantime which would be acceptable to the bank as per the act and guidelines. in view of the aforesaid submissions made, this court, at this stage, is not inclined to issue any direction in the matter where the bank is said to be proceeding against the petitioner for realization of the outstanding dues under the sarfaei act, 2002. it would be open to liquidate the outstanding dues by the petitioner with the respondent bank in terms of the rules and rbi guidelines in respect of the same. the writ petition as well as the i.a. stands disposed of. (aparesh kumar singh, j) ranjeet/

Judgment:
IN THE HIGH COURT OF JHARKHAND AT RANCHI W.P. (C) No. 3049 of 2013 --- Tarsem Singh --- --- ---- Petitioner Versus The State Bank of India & others --- --- --- Respondents --- CORAM: The Honble Mr. Justice Aparesh Kumar Singh For the Petitioner: Mr. Sanjay Kr. Chaturvedi, Advocate For the SBI: Mr. Rajesh Kumar, Advocate --- I.A. No. 3435/2013 02/ 19.06.2013 The instant interlocutory application has been preferred for fixing an early date of hearing under the heading for fresh filing on the apprehension that the respondent Bank would institute criminal case against the petitioner and would seek forfeiture of the vehicle taken by the petitioner on loan by engaging private enforcement agency. Counsel for the respondent Bank however vehemently disputed the aforesaid apprehension stating that all actions for realization of the outstanding dues of the petitioner would be taken in accordance with law and the provisions of the SARFAESI Act, 2002. Counsel for the petitioner submits that the petitioner may also be allowed to liquidate the amount in the meantime which would be acceptable to the Bank as per the Act and guidelines. In view of the aforesaid submissions made, this Court, at this stage, is not inclined to issue any direction in the matter where the Bank is said to be proceeding against the petitioner for realization of the outstanding dues under the SARFAEI Act, 2002. It would be open to liquidate the outstanding dues by the petitioner with the respondent Bank in terms of the Rules and RBI Guidelines in respect of the same. The writ petition as well as the I.A. stands disposed of. (Aparesh Kumar Singh, J) Ranjeet/