G.S.SINGHVI, G.BHAVANI PRASAD
A. Anuradha – Appellant
Versus
Canara Bank rep. by its Chief Manager, M. G. Road Branch, Secunderabad – Respondent
In this petition, the petitioners have prayed that the respondent Canara Bank be restrained from dispossessing them from the premises bearing Municipal No.15-5-826, 15-5-826B, 15-5-826/1, 15-5-826/2 and 15-5-826/3 admeasuring 272 square yards situated at Afzulgunj, Hyderabad. They have further prayed for issuance of a direction to the respondent to give them an opportunity to repay the amount outstanding against late Sri K. Veeresh Murthy.
2. Late Sri K. Veeresh Murthy, husband of petitioner No.1 and father of petitioners No.2 to 4 took a loan of Rs.25,00,000/- from the respondent Bank and mortgaged the property in question by a registered deed executed in favour of the Bank. On account of non-repayment of the loan, the Bank initiated proceedings against the borrower under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the Act). In the first instance, notice under Section 13 (2) was issued. This was followed by notice under Section 13 (4). Thereafter; on an application made by the Bank under Section 14 of the Act, the concerned Court passed an order for appointment of Advocate Commissi
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.