JUDGMENT

Mrs. Lisa Gill, J. (Oral)

Prayer in this writ petition is for directing respondents no.1 and 2 to refrain from taking over possession of the house as described in the writ petition under the proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act') on the premise that petitioner no.1 is neither the borrower or guarantor of the loan account and that the outstanding amount should be recovered from respondents no.3 to 5, who have sufficient properties to satisfy the outstanding loan amount. There is a further prayer for directing the respondent-Bank to decide representation dated 10.01.2023, submitted by the petitioner.

2. Learned counsel for the petitioners submits that the house in question belonged to petitioner no.1, who is a retired person. Petitioners no.2 and 3 are his wife and daughter respectively, respondents no.3 and 4 are his son and daughter-in-law, respectively. It is submitted that on assurance given by respondents no. 3 and 4 that they would look after the petitioners for rest of their lives and would take care of all their needs, petitioner no.1 transferred ownership of the house in question in favour of respondent no.4 (his daughter-in-law), vide registered deed no. 2331 dated 03.10.2016. Copy thereof is not available on record.

3. The said respondents, it is submitted thereafter availed a loan of Rs. 14,00,000/- from respondent no.1 with respondent no.5 as guarantor thereof. Respondents no. 3 and 4 did not repay the loan amount pursuant to a well planned conspiracy to ensure sale of the house in question. Due to financial indiscipline on the part of respondents no. 3 and 4, respondent no.1 initiated proceedings under the SARFAESI Act. Notice under Section 13 (2) of the SARFAESI Act was issued besides notice under Section 13 (4) of the SARFAESI Act being issued on 23.09.2019. Application dated 28.09.2020 was filed by the respondent-Bank under Section 14 of the SARFAESI Act. It is contended that respondent-Bank is taking steps to dispossess the petitioners from their sole residential house. It is contended that the said respondents have committed fraud and are guilty of breach of trust of petitioner no. 1 as they seek to evict the petitioners from their sole residential house in this illegal manner.

4. It is submitted that petitioner no.1 has initiated proceedings for cancellation of transfer deed dated 03.10.2016 under the Maintenance and Welfare of Parents and Senior Citizens Act, 2007 (for short 'Senior Citizens Act'), though the said details are not forthcoming in the writ petition or even during the course of arguments. Complaint for taking action against the respondents, it is contended was filed by petitioner no.1 on 09.06.2020 before the Superintendent of Police, Faridkot, but no action thereon was taken. Representation dated 10.01.2023, in this respect is stated to have been submitted before the respondent-Bank, as well.

5. Heard learned counsel for the petitioners at length.

6. It is not denied that petitioner no.1 transferred the property in question (i.e., the secured asset) in favour of respondent no.4 vide registered transfer deed dated 03.10.2016. Petitioners are stated to be residing in the residential house. Copy of transfer deed dated 03.10.2016 and details of proceedings initiated under the Senior Citizens Act are not available on record.

7. Be that as it may, keeping in view the facts and circumstances as above, we do not find any ground to entertain this writ petition. Insofar as proceedings under the SARFAESI Act are concerned, petitioners admittedly have an efficacious remedy for redr