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RAM BHAROSHE LAL SHARMA versus STATE OF U.P. & OTHERS

High Court of Judicature at Allahabad

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Ram Bharoshe Lal Sharma v. State Of U.P. & Others - WRIT - C No. 15335 of 2004 [2005] RD-AH 3453 (23 September 2005)

 

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).

HIGH COURT OF JUDICATURE OF ALLAHABAD

Writ Petition No. 15335 of 2004

HON'BLE YATINDRA SINGH, J

HON'BLE R.K.RASTOGI, J.

1. The petitioner is guarantor of the loan taken by M/s Rainbow Industries. He has filed the present writ petition against the proceedings initiated under UP Public Moneys (Recovery of Dues)  Act. 1972.

2. We have heard counsel for the petitioner and standing counsel and Sri KRS Jadon counsel for the respondents.

3. The recovery is admittedly for more than ten lakhs rupees. In view of  full bench decision of this court reported in SC Gupta Vs. Collector 2005 (60) ALR 455  no recovery can be done under UP Public Moneys (Recovery of Dues) Act, 1972. In view of this, recovery is quashed. It is open to the respondent to recover the amount under Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 or under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

4. With these observations, the writ petition is disposed of.

Date: 23. 9.2005

SKS


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Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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