Punjab National Bank & Anr vs M/S Imperial Gift House & Ors

The Supreme Court held that the High Court erred in quashing the notice issued by Punjab National Bank under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Court emphasized that the respondents had the opportunity to file a representation under Section 13(3)(A) of the Act, which was rejected, and thus the High Court should not have entertained the writ petition. The appeal was allowed, and the High Court's order was set aside, dismissing the writ petition.