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R. M. CHHAYA, ACHINTYA MALLA BUJOR BARUA
Pranjal Dutta – Appellant
Versus
Union of India – Respondent
JUDGMENT :
R.M. Chhaya, J.
Heard Mr. A. Das, learned counsel for the petitioner.
2. Though served, no one appears for the respondents.
3. By way of this petition under Article 226 of the Constitution of India, the petitioner has challenged the Demand Notice dated 16.05.2022 issued by the respondent No.4 under the provisions of Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, hereinafter referred to as 'the SARFAESI Acf).
4. It is a matter of record that this Court vide order dated 20.06.2022 had issued notice and by an ad interim measure the impugned Demand Notice dated 16.05.2022 came to be stayed.
5. Having heard the learned counsel for the petitioner, at this stage it would be appropriate to refer to the provisions of Section 13 of the SARFAESI Act, which read as under:
The right of the borrower to make a representation or raise an objection under Section 13(3A) of the SARFAESI Act and the obligation of the secured creditor to consider such representation or objecti....
Point of Law - Section 13 of the SARFAESI Act deals with enforcement of security interest. Sub-section (2) provides for issuance of notice by the secured creditor to the borrower for discharge of lia....
Prematurity of the petition seeking to quash a notice issued under Section 13 (2) of the SARFAESI Act.
The court's decision highlighted the importance of considering representations for repayment within a specified time frame under the SARFAESI Act.
The main legal point established in the judgment is the non-maintainability of a writ petition under Article 226 against proceedings under the SARFAESI Act, and the requirement for the petitioner to ....
The SARFAESI Act provides for the enforcement of security interest by secured creditors and the availability of alternative statutory remedies, emphasizing the non-maintainability of writ petitions a....
Regularization of loan account - Default in payment of installment - Petitioner was already having facility of instalment. The grant of further instalment for regularising loan account is exclusively....
Disputed representations under the SARFAESI Act require adjudication by the proper authority in accordance with Section 13(3A) of the Act.
The court provided protection to the petitioner until the securitization application is heard by the Debts Recovery Tribunal, considering the non-functioning of the tribunal due to the vacancy of the....
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