2017 (5) TMI 1701

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Ms. Seema Sah, Brief Holder, present for the State of Uttarakhand. Mr. D.S. Patni, Advocate, present for respondent No. 2. ORDER 1. The petitioner before this Court is a company registered under the Companies Act, 1956. It had admittedly taken loan from the State Bank of India, SME Branch, Ranipur, Haridwar in the year 2010-11, for setting up a textile industry at Haridwar. During the course....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....istrate, Haridwar passed an order directing the respondent Bank to take the possession of the secured assets of the petitioners. The Bank has by now taken the possession of the secured assets of the petitioner and as per the counsel for the Bank, the property is to be auctioned on 08.05.2017 by way of e-auction. The total liability against the petitioner as on date, according to the Bank, is prese....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the petitioner would be that it is an order in which the District Magistrate has not applied its mind, as provided under the proviso of Section 14(1) of the SARFAESI Act, though the proviso says that the District Magistrate "shall after satisfying the contents of the affidavit pass suitable orders." 5. Order of the District Magistrate, Haridwar dated 10.10.2017 has been perused. It has been conte....