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TEJINDER SINGH DHINDSA, SANJIV BERRY
Fermina Developers Pvt. Ltd. – Appellant
Versus
Indiabulls Housing Finance Limited – Respondent
JUDGMENT
Tejinder Singh Dhindsa, J.
Challenge in the instant petition is to the recall notice dated 10.11.2022 (Annexure P-7) issued by the respondent-Indiabulls Housing Finance Limited whereby a Repayment Structure/OTS letter dated 01.09.2021 (Annexure P-2) stands terminated. Further challenge is to the notice dated 19.12.2022 issued under Section 13 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter to be referred to as the 2002 Act). A writ of mandamus is also sought directing the respondent to adhere to the repayment structure/OTS letter dated 01.09.2021 (Annexure P-2) and not to adopt any coercive steps against the petitioners.
2. We may take note that identical issue/prayer came to be raised in terms of filing CWP No.575-2023 (M/s Vatika One India Next Pvt.Ltd. and another v. Indiabulls Commercial Credit Ltd.). Such petition was at the hands of a group company and also assailed the termination of the repayment structure/OTS letter dated 01.09.2021 issued by Indiabulls Housing Finance Limited. Such petition came up for preliminary hearing before this Court on 18.01.2023 and while issuing notice for 23.02
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