Prashant Shashi Ruia Thru His Poa ... vs State Bank Of India

(PER : HONOURABLE MR.JUSTICE R.M.CHHAYA) Heard Mr. Mihir Thakore, learned Senior Advocate assisted by Mr.Keyur Gandhi, learned advocate for Nanavati Associates for the petitioners.

By this petition under Article 226 of the Constitution of India, the petitioners have challenged order dated 05/02/2019 passed by Debt Recovery Tribunal-1, Ahmedabad passed in Original Application No.648 of 2018.

Mr. Mihir Thakore, learned Senior Advocate orally submitted that the matter is now to be listed before the Debt Recovery Tribunal on 25/02/2019.

Considering the judgment of the Hon'ble Apex Court in the case of Authorized Officer, State Bank of Travancore Page 1 of 2 C/SCA/3852/2019 ORDER and Another vs. Mathew K.C. reported in (2018) 3 SCC 85, alternative, efficacious and effective remedy before the appellate tribunal is available. As alternative efficacious remedy before the Debt Recovery Appellate Tribunal is available to the petitioner, the petition is not entertained on merits. It is however, clarified that this Court has not expressed any opinion on merits.

As the petitioner is relegated to the alternative remedy by filing an appeal, if any application for adjournment is preferred by the petitioner, the same shall be considered by the DRT sympathetically. Even at the cost of repetition, it is provided that the appellate authority as well as DRT shall deal with the matter in its own merits and without in any manner influenced by any observation made in this order as this Court has not dealt with the merits of this case.

Present petition stands disposed of accordingly. Direct service today is permitted.

(R.M.CHHAYA, J) (V. B. MAYANI, J) ila Page 2 of 2