2022 (5) TMI 1360

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....e of attachment on the subject property being "Godown Property constructed on land admeasuring 429-18 sq.mtr. Of City Sy. No.2863 of Street No.90 at Manavadar, DistL Junagadh" as being illegal, unjust, unreasonable, contrary to the provision of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as also violative of statutory rights of the petitioner bank and cancel the charge of respondent no.2 authority, in the interest of justice and equity; (B) Be pleased to direct respondent no.6 authority to record the name of respondent no.5 in the property card of the subject property forthwith, being an auction purchaser of the subject property, pending admission, hearing and final hearing of ....

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....o been issued by the bank. The sale-deed has also been registered in favour of the respondent no.5 duly executed by the bank. 4. The bank is here before this Court with the present writ-application as the State has got its charge mutated in the revenue records with respect to the dues to be recovered from the original borrowers towards VAT. 5. We have heard Mr. P.M. Dave, the learned counsel appearing for the writ-applicant; Mr. Utkarsh Sharma, the learned AGP appearing for the State respondents and Mr. S.M. Kikani, the learned counsel appearing for the respondent no.5. 6. It is the case of the bank that in accordance with the provisions of the SARFAESI Act, more particularly, Section-26E and also, in view of the two pronouncements of th....