(Kurian Joseph and R. Banumathi, JJ.)
Small Industries Development Bank of India (SIDBI) & Anr. ______________________________________________ Appellant(s)
v.
M/s. Emosons Organics Ltd. & Anr. _________________ Respondent(s)
Civil Appeal No. 11074 of 2017 [@ Special Leave Petition (C) No. 5333 of 2016], decided on August 29, 2017
The Judgement of the Court was delivered by
Kurian, J.:—
1. Leave granted.
2. The issue raised in this appeal is whether The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) is applicable in the State of Jammu and Kashmir.
3. That question has been answered by this Court in detail in State Bank of India v. Santosh Gupta, reported in (2017) 2 SCC 538. It has been held by this Court that the Act is applicable in the State of Jammu and Kashmir. Therefore, the Judgment of the High Court is set aside and this appeal is allowed.
4. In view of the above, the appellants are free to proceed further under the SARFAESI Act, in accordance with law.
5. No costs.
Petition(s) for Special Leave to Appeal (C) No(s). 5333/2016
Small Industries Development Bank of India (SIDBI) & Anr ________________________________________________ Petitioner(s)
v.
M/s. Emosons Organics Ltd. & Anr __________________ Respondent(s)
Date : 29-08-2017 These matters were called on for hearing today.
(Before Kurian Joseph and R. Banumathi, JJ.)
For Petitioner(s) Mr. Rakesh Khanna, Sr. Adv.
Mr. Sarvesh Bisaria, Adv.
Mr. Prakash Chandra Sharma, Adv.
Mr. Ashish Azad, Adv.
Mr. Anand K. Mishra, Adv.
Ms. S. Bushra Kazim, Adv.
Ms. S. Usha Reddy, AOR
For Respondent(s)
UPON hearing the counsel the Court made the following
Order
6. Leave granted.
7. The appeal is allowed in terms of the signed non-reportable Judgment.
8. Pending interlocutory applications, if any, stand disposed of.
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