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2008 Supreme(P&H) 831

SATISH KUMAR MITTAL, RAKESH KUMAR GARG
D. S. Mechanical Works – Appellant
Versus
State Bank Of India – Respondent


Judgment

RAKESH KUMAR GARG, J.

1. By way of this writ petition, the petitioner is praying for the issuance of a direction to the respondents directing them not to send goondas / musclemen in order to recover any balance amount if due or to take possession of House No.276, Urban Estate, Batala and to hand over the title deed and issue him "No Due Certificate" of the aforesaid mortgaged property as the petitioner has paid the entire loan amount of Rs. 11,03,000/- as per the settlement offer dated 31.12.2005 (Annexure P-2) arrived at between the parties.

2. As per the averments made in the writ petition, the petitioner-firm took credit facility from the respondents. However, he had failed to re-pay the amount. Thus a demand notice under section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the "SARFAESI Act 2002") was issued on 14.5.2003 by the respondents. Thereafter, another notice dated 13.10.2004 was issued for taking the symbolic possession of the mortgaged property bearing House No.276, Urban Estates, Batala and thereafter, a settlement was arrived at between the parties on 31.12.2005, wherein it was s







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