Court No. - 38
Case :- WRIT - C No. - 6110 of 2019 Petitioner :- M/S New M L Traders And Another Respondent :- State Of U P And 4 Others Counsel for Petitioner :- Kshitij Shailendra Counsel for Respondent :- C.S.C.,Sanjai Singh Hon'ble Abhinava Upadhya,J. Hon'ble Jayant Banerji,J.
Heard Shri Kshitij Shailendra, learned counsel for the petitioners and Shri Sanjai Singh and Shri Himanshu Pandey, learned counsel for the respondents.
By means of this writ petition, the petitioners, who claim themselves to be tenant of the secured assets for disbursing the loan in favour of the respondent no.5, has challenged the order passed by the District Magistrate under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( in short 'Act').
Learned counsel for the petitioners submits that their rights of tenancy cannot be affected by recovery of loan.
It is to be noted that after an amendment, Section 17(4-A) has been inserted in the Act under which the question raised by the petitioners can also be considered and decided by the Debts Recovery Tribunal. That being the case, the petitioners may file an application under Section 17(4-A) for determination of their rights.
Since the petitioners have efficacious statutory remedy available to them, we are not inclined to interfere in the matter.
The writ petition is, accordingly, dismissed.
Order Date :- 25.2.2019 SK (Jayant Banerji, J.) (Abhinava Upadhya, J.)