The businessman Pramod R Ralhan had petitioned the Bombay High Court against the order of the Assistant Recovery Officer, to attach and seal his two shops even though his shops were the second collateral for a loan he had taken in a company which he was no longer a part of. The company, Well Dwell Builders Pvt Ltd, now has Shailesh Wagh, Manohar Joshi's daughter Namrata, Shailesh's wife and Joshi's son Unmesh as the directors. In his petition Ralhan, who made all the three his respondents, urged that the recovery should be done first through the property mortgaged for the loan, in this case a plot of land in Dadar (west) and only then from the second collateral.According to Ralhan, he and his father had founded the company, Well Dwell Builders Pvt Ltd and had taken upa plot, Ullengalwadi at N C Kelkar Road, Dadar (W), final plot no 98, TPS-IV, Mahim division, CTS no 274,275 and 276 admeasuring 2408 sq metres for development. The plot with 70 tenants was to be developed for which he had taken a loan of Rs 75 lakh from Greater Bombay Cooperative Bank way back in 1994. He, however, failed to develop the property and was approached by Joshi's son Unmesh who, according to him, offered financial help.

Eventually, he alleged, the Joshi kin took over the company and annexed papers showing the necessary changes in the company documents with the Registrar of Companies. He alleged that he had been coerced into the deal, a fact denied by the counsel for the respondents, Wagh and Unmesh Joshi. Meanwhile, the bank closed in for the recovery of the loan, an amount now of Rs 1.23 crore and along with the plot at Dadar, had his two shops -201 A and 201 B, Goel Shopping Arcade, Borivli (E) attached - though they were his personal collaterals for the loan he had taken as the director ofthe company. Counsel for Ralhan, Appasaheb Desai argued that while constructions in the Dadar plot continued, his two shops were sealed by the recovery officer.

Justice B N Srikrishna ordered that the recovery of the amount be made from the borrower first and the attachment of the two shops be lifted though Ralhan has been asked not to make any third-party rights on the premises.