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2006 Supreme(P&H) 4505

HEMANT GUPTA
State Bank of India – Appellant
Versus
Karanvir – Respondent


Advocates Appeared:
For the Petitioner:Shri Vikas Chatrath, Advocate.
For the Respondent Nos. 1 to 3:Shri V.M. Gupta, Advocate.

JUDGMENT

Hemant Gupra, J. - The challenge in the present revision petition is to the order passed by the learned trial Court on 22.9.2005 whereby the petitioner- bank was restrained from dispossessing the plaintiffs from the suit property as well as the order in appeal affirming the said order.

2. On Kalawanti executed equitable mortgage in favour of the bank in the year 2000-01. Since the principal borrower i.e. Ram Lal Pawan Kumar Rice Mills failed to make payment of the dues of the bank, a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security and Interest Act, 2002 (hereinafter to be referred as "the Act") was issued on 20.11.2003. Since no objection was filed after the issuance of the notice, another notice under Section 13(4) of the Act was issued and thereafter the bank has taken possession of the secured assets. Notices were issued to Smt. Kalawanti deceased through her legal heirs.

3. The plaintiff-respondents, grandsons of Kalawanti filed the present suit for declaration and injunction restraining the petitioner-bank from taking over possession of the suit property on the basis of their title derived through the





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