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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Devender Yadav – Appellant
Versus
Punjab National Bank – Respondent
| Table of Content |
|---|
| 1. challenge to securitization and loan details. (Para 1 , 2 , 3) |
| 2. court's analysis on locus standi and extraordinary jurisdiction. (Para 4 , 5) |
| 3. alternative remedies under the act discussed. (Para 6) |
| 4. judicial precedents on availability of alternative remedies. (Para 7 , 8 , 9) |
| 5. petition dismissed in favor of alternate remedies. (Para 10) |
JUDGMENT
G.S. Sandhawalia, J. (Oral) - The challenge herein is to the securitisation proceedings initiated including the notice dated 02.09.2021 (Annexure P-2) issued under Section 13 (4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act') wherein a sum of Rs. 86,19,540/- is being claimed and the subsequent proceedings whereby physical possession is sought to be taken by resorting to the provisions of Section 14 of the Act.
2. As per the averments made in the writ petition, the loan was taken in the year 2014 of a house No. 1009/31, Laxman Vihar, Phase 2, Near Shani Mandir, Gurgaon-122001 (Haryana), measuring 122 square yards.
3. The respondent has placed on record a copy of the sale deed executed by the petitioners on 19.08.2017 wherein the said house
The main legal principle established in the judgment is that when an alternative remedy is available to the petitioner under the Securitization Act, the High Court should normally not interfere in th....
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