STATE BANK OF INDIA vs THE STATE OF MAHARASHTRA AND ORS. Advocate - REBECCA GONSALVEZ — APEAL/861/2023
Case under Mah. Protection of Interests of Depositors Section 11. Disposed: --Allowed on 08th May 2026.
CNR: HCBM010266992023
e-Filing Number
16-06-2023
Filing Number
REVN/10871/2023
Filing Date
16-06-2023
Registration No
APEAL/861/2023
Registration Date
17-07-2023
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
--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. Advocate - REBECCA GONSALVEZ
THE COMPETENT AUTHORITY UNDER MPID ACT
NATIONAL SPOT EXCHANGE OF INDIA LIMITED
Adv. MZM Legal
MYNAH INDURTRIES LIMITED
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
AT 2.30 P.M.
-FOR ORDERS
FOR ORDERS (DUE MATTERS)
FOR ORDERS (DUE MATTERS)
FOR ORDERS (DUE MATTERS)
| Date | Purpose |
|---|---|
| 17-07-2023 | AT 2.30 P.M. |
| 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
The Bombay High Court allowed SBI's appeals, permitting it to proceed with SARFAESI Act auction of mortgaged properties despite prior attachment by Maharashtra authorities in the NSEL scam investigation. The court held that SBI's rights as a secured creditor take priority, and technical non-compliance with deposit orders shouldn't bar recovery, noting SBI can later account for proceeds if directed toward NSEL depositor claims. This case analysis is maintained by casestatus.in based on publicly available court records.
The Bombay High Court allowed SBI's appeals, permitting it to proceed with SARFAESI Act auction of mortgaged properties despite prior attachment by Maharashtra authorities in the NSEL scam investigation. The court held that SBI's rights as a secured creditor take priority, and technical non-compliance with deposit orders shouldn't bar recovery, noting SBI can later account for proceeds if directed toward NSEL depositor claims. This case analysis is maintained by casestatus.in based on publicly available court records.
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