Shree Balaji Homes Pvt. Ltd. & Ors. v. SICOM Ltd.

…Appellant

SICOM Ltd.

…Respondent

Case No: Appeal on Diary No. 1453/2023

Date of Judgement: 30/08/2023

Judges:

Mr Justice Ashok Menon, Chairperson

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For Appellant: Mr Gaurang Kinkhabwala along with Dhawani Patel, i/b Mr Tushar Goradia, Advocate.

Facts:

Arguments by the Parties:

Cases Cited:

Sections and Laws Referred:

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act)

• • Section 13(2) (Demand Notice)
  • Section 13(4) (Measures after issuing Demand Notice)
  • Section 14 (Chief Metropolitan Magistrate or District Magistrate to assist secured creditor in taking possession of secured asset)
  • Section 18(1) (Deposit of amount of debt due for entertaining an appeal)

Security Interest (Enforcement) Rules

• • Rule 8(5)

Code of Civil Procedure

• • Order 21 Rule 64