BANK OF MAHARASHTRA vs JAI KUMAR BANSAL

Judgment text excerpt

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 12.01.2026 Judgment pronounced on: 20.02.2026 Judgment uploaded on: 20.02.2026 + RFA(COMM) 50/2023 and CM APPL. 14354/2023 BANK OF MAHARASHTRA .....Appellant Through: Mr. V.K. Gupta, Adv. versus JAI KUMAR BANSAL .....Respondent Through: Mr. Rohan Garg, Mr. Rohit Dutta, Mr. Shyam Kishor Maurya, Mr. Siddharth Dewalwar and Ms. Ananya Jain, Advs. CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL HON'BLE MR. JUSTICE AMIT MAHAJAN JUDGMENT ANIL KSHETARPAL, J.: 1. Through the present Appeal, the Appellant assails the correctness of the judgment and decree dated 31.01.2023 [hereinafter referred to as the Impugned Judgment] passed by the Commercial Court, whereby the suit filed by the Respondent [Plaintiff before the Commercial Court] was partly decreed in CS(COMM) No.2243/2019. FACTUAL BACKGROUND: 2. The brief facts necessary for the adjudication of the present Appeal are that the Appellant Bank, acting as a secured creditor under Signature Not Verified Signed By:SAVITA PASRICHA RFA(COMM) 50/2023 Signing Date:20.02.2026 13:21:19 Page 1 of 11 the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [hereinafter referred to as „SARFAESI Act‟], issued a Public Notice on 28.11.2018 inviting bids for the sale of properties situated at H-3, H-3A, and H-4, UPSIDA Industrial Area, Sikandrabad, Uttar Pradesh. The properties had been given on lease by the U.P. State Industrial Development Authority (UPSIDA) to the Bank's borrower, M/s Ashoka Machine Tools International Pvt. Ltd., and served as collateral security for the repayment of dues. 3. On 28.11.2018, the Appellant issued a Public Notice for e- auction of the said properties. The notice unequivocally stipulated that the sale