MS AGRAWAL SHIPPING AND LOGISTICS THROUGH ITS PARTNER DEEPAK MANUBHAI AGRAWAL vs STATE BANK OF INDIA on 22 March 2024

**ORDER**

1. 1. Today, this matter has come up for hearing on affidavit Ex.R/9 filed today by the Respondent Bank.

2. 2. Vakalatnama filed by the Ld. Counsel for the Respondent Bank is taken on record as Ex.R/8.

3. 3. Ld. Counsel for the Respondent Bank has filed an affidavit Exh.R/9, submitting interalia that the Respondent Bank has withdrawn the Demand Notice dated 24.04.2023 issued u/s.13(2) of the Act and as such, all such actions/measures taken by the Respondent Bank under the SARFAESI Act, 2002 under challenge in the present Application becomes infructuous and hence, it is submitted that the present Misc. Application may be disposed of accordingly.

4. 4. Ms.Yadav submitted that without prejudice to the rights of the applicant to avail efficacious remedy, in respect of any cause of action accrues to the applicants after withdrawal of the SARFAESI process under challenge in the present Misc. Application filed along with Delay condonation application, she has no objections, if the Misc. Application may be disposed of, however applicant may be given liberty to avail efficacious remedy in accordance with law.

5. 5. Heard the Ld. Counsel for the parties.

6. 6. As bank has withdrawn its Demand Notice issued under Section 13(2) of the SARFAESI Act, 2002 under challenge in the present Application, so this Application becomes infructuous and hence, is disposed of accordingly.

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2M.A.No. 55 of 2023

1. 7. However, the applicant may avail efficacious remedy, if any cause of action accrues to the applicant after withdrawal of the action/measures taken under the SARFAESI Act, 2002 under challenge in the present Application by the Respondent Bank. The applicants may take all legal and factual grounds in accordance with law even if same has been taken in this Misc. Application filed along with Delay condonation application.

2. 8. Respondent Bank is directed not to debit the expenses incurred by it for the defective action/measures taken under SARFAESI Act in the account of the borrower.

3. 9. Bank may proceed afresh in its own discretion to recover its due under Securitisation Act.

4. 10. The Misc. Application along with Delay condonation application is accordingly disposed of. There is no order as to costs. Let the file be consigned to records.

**(LAXMAN MADNANI)** **Presiding Officer,** **DRT-II, Ahmedabad**