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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Sukhjinder Singh – Appellant
Versus
State Bank Of India – Respondent
JUDGMENT
Ms. Harpreet Kaur Jeewan, J. - CWP-9252-2022 (O&M)
The present writ petition has been filed under Article 226/227 of the Constitution of India seeking setting aside of the sale conducted by the respondent Bank on 06.01.2021 and further seeking a direction to the respondent Bank to accept the amount under the 'Rinn Samadhan Scheme' 2020-21.
2. As per the averments made in the petition, petitioner No. 1 has availed a loan from the respondent Bank on 07.02.2006 and the house in question was mortgaged with the Bank. As per the written reply filed by the respondent-Bank, the account of the petitioner was declared as NPA on 10.05.2014. The proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act') were initiated. As per the contents of the reply of the Bank dated 12.01.2021 (Annexure P-4), the physical possession of the property was taken on 09.02.2019. The petitioner approached the Debt Recovery Tribunal-I, Chandigarh (for short 'the Tribunal') challenging the sale dated 06.01.2021 which was held under the provisions of the Act by way of filing SA No. 23 of 2019 (Annexure P-13). As such, the pre
though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
The main legal point established in the judgment is the interpretation of Rule 9(4) and 9(5) of the Security Interest (Enforcement) Rules, 2002, highlighting the requirement for the purchaser to pay ....
Though existence of an alternative remedy is not an absolute bar to the maintainability of a writ petition under Article 226 of the Constitution, but a writ petition can be entertained in exceptional....
The right of redemption under the Securitisation Act ceases upon auction notice publication, but the Debt Recovery Tribunal can still adjudicate borrower grievances.
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