Court No. - 33
Case :- WRIT - C No. - 19959 of 2019 Petitioner :- M/S Reliance International A Sale Proprietorship And Another Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Upendra Kumar Pandey,Rajesh Kumar Srivastava Counsel for Respondent :- C.S.C.
Hon'ble Manoj Misra,J.
Hon'ble Saurabh Shyam Shamshery,J.
Heard learned counsel for the petitioner and learned Standing counsel appearing for respondents 1 and 2.
The instant petition seeks direction upon Collector Kanpur Nagar to ensure valuation of the secured assets through an authorized valuer before they are put to auction under the provisions of SARFAESI Act.
The aforesaid prayer cannot be accepted because Rule 8 (5) of the Secured Interest (Enforcement) Rules 2002 enables valuation of the properties from an approved valuer. Under the circumstances, it would not be appropriate for us to let the Collector intervene in valuing the property.
Even otherwise, in case, the petitioner is aggrieved by any action, he can always, at the appropriate stage, take recourse to appropriate remedy provided under the Act and may also challenge the valuation put forth.
With the aforesaid observation and liberty, the petition is disposed off.
Order Date :- 7.6.2019 MH