M/S J K PLYWOOD AND HARDWAREversusSAMMAN CAPITAL LIMITED (FORMERLY KNOWN AS INDIABULLS HOUSING FINANCE LIMITED)

     C/SCA/2012/2026                             ORDER DATED: 13/02/2026




           IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

             R/SPECIAL CIVIL APPLICATION NO. 2012 of 2026

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            M/S J K PLYWOOD AND HARDWARE & ORS.
                              Versus
     SAMMAN CAPITAL LIMITED (FORMERLY KNOWN AS INDIABULLS
               HOUSING FINANCE LIMITED) & ORS.
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Appearance:
RITESH D PATADIA(6460) for the Petitioner(s) No. 1,2,3
MR V.M. GOHIL, ADVOCATE for respondent No.1 & 2
MR PR ABICHANDANI(102) for the Respondent(s) No. 3,4
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 CORAM:HONOURABLE MR. JUSTICE ANIRUDDHA P. MAYEE

                           Date : 13/02/2026

                            ORAL ORDER


1.     By the present writ petition, the petitioner is praying
for a relief to stay the action of the respondent No.1- Bank
to take possession of the secured assets on 14.02.2026, so as
to enable them to exercise their rights of appeal under
Section 18 of the SARFAESI Act, 2002.


2.     Learned advocate for the petitioners submits that the
learned Court Commissioner has issued notice dated
28.01.2026 for taking physical possession of the secured
assets on 14.02.2026. It is submitted that the petitioners had
already preferred Securitization Application No. 691 of 2025.
The prayer for interim relief was taken up for hearing on
11.02.2026. By the impugned order dated 11.02.2026, the


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     C/SCA/2012/2026                                    ORDER DATED: 13/02/2026




learned DRT-II Ahmedabad has refused the prayer for interim
relief. He further submits that though the impugned order
was passed on 11.02.2026, it was made available on-line on
12.02.2026. Learned advocate for the petitioners further
submits that the petitioners have only one day’s time to 3le
an appeal before the Debts Recovery Appellate Tribunal
(DRAT) challenging the impugned order. He submits that
some interim relief be granted to the petitioners so as to
exercise their rights of appeal before the DRAT.


3.    Per contra, learned advocate Mr. V.M. Gohil appearing
on behalf of the respondent No.1- Finance Bank submits that
total outstanding dues of the petitioners are about Rs. 48.71
lakhs. He submits that the petitioners have defaulted in
payment of its installments and therefore to recover its
dues, the respondent No.1 has initiated proceedings under
the SARFAESI Act. Learned advocate further submits that no
such indulgence be granted and the respondent No.1-Bank
be permitted to take possession of the secured assets.


4.    Considering the submissions and the fact that the
impugned order refusing the interim relief has been passed
only on 11.02.2026 and the copy thereof has been made
available on-line on 12.02.2026, this Court is of the
considered         opinion   that      the        petitioners    be      granted



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     C/SCA/2012/2026                        ORDER DATED: 13/02/2026




protection for a period of two weeks from today so as to
enable them to 3le an appeal and get the appeal listed for
urgent hearing on interim relief before the Debts Recovery
Appellate Tribunal. It is, therefore, directed that the
respondent No.1- Bank shall defer taking of the possession
of the secured assets in question till 27.02.2026. In the
meantime, the petitioners shall be at liberty to 3le an
appropriate appeal before the learned Debts Recovery
Appellate Tribunal.


5.    It is made clear that this interim protection is granted in
the interest of justice to enable the petitioners to get an
opportunity of mentioning the case before the learned
Debts Recovery Appellate Tribunal for the interim relief. If
the petitioners are unable to get the appeal listed for
hearing or if no interim relief is granted in favour of the
petitioners in the said appeal, the respondent- Bank shall be
at liberty to take the possession of the secured property in
question immediately.


6.    It is also made clear that this Court has not gone into
the merits of the case and no opinion is expressed thereon.
The learned Debts Recovery Appellate Tribunal shall decide
the appeal of the petitioners on its own merits and in
accordance with law.



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         C/SCA/2012/2026                                               ORDER DATED: 13/02/2026




7.        The Special Civil Application is entertained only to the
aforesaid extent and disposed of accordingly.
          Direct service today is permitted.



                                                                (ANIRUDDHA P. MAYEE, J.)
SALIM/


Original copy of this order has been signed by the Hon'ble Judge.
Digitally signed by: MOHAMMAD SALIM(HC01108), STENO GR II, at High Court of Gujarat on 13/02/2026 17:53:57




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