Authority: High Court of Judicature at Bombay (Civil Appellate Jurisdiction)
Order Date: 08 October 2026
Case Overview
- Petitioners: Sanjay Vashishthmuni Dhusiya and another; Respondent: Punjab National Bank.
- Petition filed as Writ Petition No.13429 of 2026 challenging the order dated 07.08.2026 passed by the Competent Magistrate under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for taking physical possession of the secured asset.
- Petitioners, through counsel Mr. Vivek V. Phadke, sought to withdraw the writ and requested liberty to pursue Securitisation Application (D) No.1808 of 2026 before the Debts Recovery Tribunal‑III, Mumbai.
- Respondent bank was represented by Mr. Vibin Nair of Orizon Legal.
Final Outcome
- The Court disposed of the writ petition as withdrawn, granting the requested liberty for the petitioners to continue the securitisation application before the DRT‑III.
- No opinion on the merits was expressed; all rights and contentions of the parties remain open.
- Any pending applications in this writ petition are also disposed of.
Topics: Banking, Legal Proceedings