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G. S. SANDHAWALIA, HARPREET KAUR JEEWAN
Bharti Printers – Appellant
Versus
State Bank of India – Respondent
| Table of Content |
|---|
| 1. disclosure of auction process and property details. (Para 1) |
| 2. discussion on statutory remedies available to borrowers. (Para 2 , 4 , 5 , 6) |
| 3. judicial restraint in extraordinary jurisdiction due to available remedies. (Para 3 , 7) |
| 4. rejection of writ petition in favor of alternative remedies. (Para 8) |
JUDGMENT
Mr. G.S. Sandhawalia, J.
Challenge has been made to the sale notice dated 22.02.2023 (Annexure P-11), whereby the auction had taken place on 15.03.2023 for recovery of Rs. 6,15,97,680/- plus interest as on 06.11.2014. The property which has been put to sale is a residential house bearing No.279, Shivalik Enclave, NAC, Manimajra, Chandigarh having plot size of 406.66 square yards. The same was done in pursuance to the proceedings initiated under Section 13 of the Securitization and Re-construction of Financial Assets and Enforcement of Security Interest Act, 2002.
2. On having advance notice counsel for the respondent-Bank puts in appearance and has pointed out that the outstanding are to the tune of Rs. 17.52 crores since interest element has crept in.
3. Keeping in view the above, we are of the considered opinion that it is not for the Writ Court to exercis
The SARFAESI Act provisions, including the enforcement of security interest, the rights of the borrower, the appeal process, and the non-maintainability of writ petitions against private financial in....
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