Bombay High Court
SANJAY VISHWANATHMUNI DHUSIYA AND ANRversusPUNAB NATIONAL BANK
- Decided
- Disposal
- Disposed Off
Holding
The writ petition is disposed of as withdrawn, with liberty granted to the petitioners to pursue their application before the Debts Recovery Tribunal.
Summary
The petitioners, Sanjay Vashishthmuni Dhusiya and another, filed a writ petition challenging an order dated 07.08.2026 passed by a Competent Magistrate under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, which allowed Punjab National Bank to take physical possession of a secured asset. The petitioners later instructed their counsel to withdraw the writ petition, stating that the bank had already taken possession and they wished to pursue a separate securitisation application (D) No.1808 of 2026 before the Debts Recovery Tribunal‑III, Mumbai. The High Court, after noting the petitioners' request, disposed of the writ petition as withdrawn and granted liberty to the petitioners to continue their DRT proceedings. The Court expressly refrained from expressing any opinion on the merits of the original challenge. All rights and contentions of the parties were kept open for future determination. The order was signed digitally by the judges on 08 October 2026.
Issues considered
- What legal remedies are available to challenge an order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 concerning possession of a secured asset?
Legislation cited
Subjects
- writ petition
- withdrawal
- secured creditor
- possession
- Securitisation Act
- Debts Recovery Tribunal
- Civil appellate jurisdiction
- Bombay High Court
Judgment
918_WP13429_26.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
CIVIL APPELLATE JURISDICTION
WRIT PETITION NO.13429 OF 2026
Sanjay Vashishthmuni Dhusiya and another … Petitioners
Vs.
Punjab National Bank … Respondent
Mr. Vivek V. Phadke (through VC) for Petitioner.
Mr. Vibin Nair i/b. Orizon Legal for Respondent.
CORAM : MANISH PITALE &
SHREERAM V. SHIRSAT, JJ.
DATE : OCTOBER 08, 2026
P.C. :
. Mr. Phadke, learned counsel for the petitioners submits that
although the petitioners challenge the order dated 07.08.2026 passed by
the Competent Magistrate under Section 14 of the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 for taking physical possession of the secured asset, since
physical possession of the secured asset has been taken by the
respondent bank (secured creditor), he has instructions to withdraw this
writ petition. He further seeks liberty for the petitioners to pursue
Securitisation Application (D) No.1808 of 2026 filed before the Debts
Recovery Tribunal-III (DRT), Mumbai.
2. In view of the above, the writ petition is disposed of as withdrawn
with liberty as aforesaid. The DRT may take up the securitisation
application for consideration expeditiously. This Court has not expressed
any opinion in the matter. All rights and contentions of the parties are
kept open.
MINAL by
Digitally signed
3. Pending applications, if any, in this writ petition stand disposed
MINAL
SANDIP SANDIP PARAB
Date: 2026.10.08
PARAB 18:21:23 +0530
of.
(SHREERAM V. SHIRSAT, J.) (MANISH PITALE, J.)
Minal Parab 1/1
Checking your session…
Lawyer court records for this case
Associated through the court’s case reference.