Authorized Officer, State Bank of Travancore & Anr. vs. Mathew K. C. – (SC)

Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002–Secs. 13(4) & 17–Order u/s. 13(4) for deposit of amount–Stayed by High Court–Justification–No statement in writ petition that the grievance falls within any of the well defined exception–Petition was filed in haste manner to stall the action of recovery–No pleading as to why the remedy available u/s. 17 of Act was not efficious and no compelling reasons were shown for bye-passing the same–Interim order was passed without assigning any special reasons–Even too, appellant was not given the opportunity to contest the maintainability of writ petition–Division Bench also committed error in observing that the interim order can be sought to be modified by filing the subsequent counter affidavit–Impugned order deserves to be set aside.