2024 (11) TMI 115

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.... this petition under Article 226 of the Constitution of India, the petitioner has prayed for the following reliefs : "(A) This Hon'ble Court be pleased to issue a writ of mandamus or a writ in the nature of mandamus or any other appropriate writ, order or direction declaring that the Petitioner Bank has first charge over the promo mortgaged by the Respondent no. 3 under section 26E of the SARFAESI Act, which would override the charge of the Respondent No. 2 under Section 48 of the VAT Act; (B) This Hon'ble Court be pleased to issue a writ of mandamus or a writ in the nature of mandamus or any other appropriate writ, order or direction directing the Respondent No. 2 to remove their charge on the property mortgaged with the Petitioner Ba....

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....20 from the Advocates for the period from 11.02.2015 to 09.01.2019 wherein, one V.P. Alwani and Associates certified that the aforesaid property was free from all sorts of encumbrances except the mortgage of the petitioner-Bank. 3.6. Thereafter, it was brought to the notice of the petitioner-Bank that in Revenue Record by Entry No. 1855 dated 21.06.2019, a charge is shown to be created in favour of the respondent No. 2-State Tax Officer, Ghatak-36 on the aforesaid property in respect of one M/ s. Deepak Cabels (India) Limited qua 9712.80 Sq.Mtrs in the industrial area which was charged to the Bank. The petitioner-Bank made a representation before the respondent No. 2 to remove the charge, however, the same was not removed and therefore, th....

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....ecision of the Rainbow Papers Ltd. (Supra) of the Apex Court, as the facts of the present case are in the realm of the provisions of the RDB Act decision and of SARFAESI the Apex Act, whereas Court in case the of Rainbow Papers Ltd. (Supra) was in realm of IBC Code confined to the facts of the said case as observed in the subsequent decision of the Apex Court. 37. It is also pointed out by the learned AGP that Papers the Ltd. Decision (Supra) of was the Rainbow considered in review, which is disposed of by the Apex Court as per para 26 and 27 extracted herein above. In such circumstances, we are of the decision opinion of the that Hon'ble the Apex subsequent Court, in case of Rainbow Papers Ltd. (Supra) would not be applicable with regar....