STATE BANK OF INDIA vs THE STATE OF MAHARASHTRA AND ORS. — APEAL/860/2023
Case under Mah. Protection of Interests of Depositors Section 11, 7(3), 5(3). Disposed: Contested--Allowed on 08th May 2026.
CNR: HCBM010249462023
e-Filing Number
02-06-2023
Filing Number
REVN/10205/2023
Filing Date
06-06-2023
Registration No
APEAL/860/2023
Registration Date
14-07-2023
Judge
HON'BLE SHRI JUSTICE A.S. GADKARI , HON'BLE JUSTICE KAMAL KHATA
Coram
HON'BLE SHRI JUSTICE A.S. GADKARI , HON'BLE JUSTICE KAMAL KHATA
Bench Type
Division
Category
CRIMINAL ( 9 )
Sub-Category
OTHERS ( 99 )
Judicial Branch
Criminal
Decision Date
08th May 2026
Nature of Disposal
Contested--Allowed
Acts & Sections
Petitioner(s)
STATE BANK OF INDIA
Adv. MDP LEGAL,PARINAM LAW ASSOCIATES,PARINAM LAW ASSOCIATES, ,PARINAM LAW ASSOCIATES
Respondent(s)
THE STATE OF MAHARASHTRA AND ORS.
THE COMPETENT AUTHORITY
Adv. MS. REBECCA GONSALVEZ (SPL. P.P.)
M/S. NATIONAL SPOT EXCHANGE OF INDIA LTD
Adv. MZM Legal
MYNAH INDUSTRIES LTD.
METKORE ALLOYS AND INDUSTRIES LIMITED
SATHIDHAM SYNTEX LIMITED
PRASHANT BOORGU
SARITHA PRASHANT BOORGU
Hearing History
Judge: HON'BLE SHRI JUSTICE A.S. GADKARI , HON'BLE JUSTICE KAMAL KHATA
FOR CIRCULATION
-FOR ORDERS
FOR ORDERS (DUE MATTERS)
FOR ORDERS (DUE MATTERS)
FOR ORDERS (DUE MATTERS)
| Date | Purpose |
|---|---|
| 17-07-2023 | FOR CIRCULATION |
| 03-09-2025 | -FOR ORDERS |
| 19-06-2025 | FOR ORDERS (DUE MATTERS) |
| 11-03-2025 | FOR ORDERS (DUE MATTERS) |
| 21-01-2025 | FOR ORDERS (DUE MATTERS) |
Orders
Case Summary: The Bombay High Court allowed State Bank of India's appeals against an order blocking the bank's sale of mortgaged properties under the SARFAESI Act. The court held that SBI, as a secured creditor with prior mortgage rights, could proceed with asset recovery despite the properties being attached in a criminal investigation into the NSEL scam, finding no prejudice to NSEL depositors since SBI's financial capacity ensures requisite amounts can be deposited if ultimately required. This case analysis is maintained by casestatus.in based on publicly available court records.
Case Summary: The Bombay High Court allowed State Bank of India's appeals against an order blocking the bank's sale of mortgaged properties under the SARFAESI Act. The court held that SBI, as a secured creditor with prior mortgage rights, could proceed with asset recovery despite the properties being attached in a criminal investigation into the NSEL scam, finding no prejudice to NSEL depositors since SBI's financial capacity ensures requisite amounts can be deposited if ultimately required. This case analysis is maintained by casestatus.in based on publicly available court records.
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