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2015 Supreme(All) 442

TARUN AGARWALA, AMAR SINGH CHAUHAN
SHIV CHARAN LAL SHARMA – Appellant
Versus
ALLAHABAD BANK A. M. U. BRANCH ALIGARH – Respondent


Advocates:
Counsel :
Sudhanshu Pandey for the Petitioner; C.S.C. and Tarun Verma for the Respondents.

JUDGMENT

By the Court.—The petitioner is the guarantor and father of respondent Nos. 5 and 6 who took a cash credit limit of rupees seventy five lacs in a partnership firm known as S.R. Tractors in 2012 in which they were the partners. The petitioner stood guarantee for the cash credit limit by depositing the title deeds of his residential house No. 5/298A, Lohia Nagar Banna Devi, G.T. Road, Aligarh. It transpires that the accounts of respondent Nos. 5 and 6 became NPA on 31.5.2014 pursuant to which a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘Act’) dated 2.6.2014 was issued demanding a sum of Rs. 44.92 lacs. Thereafter, symbolic possession under Section 13(4) was also taken on 29.8.2014. It further transpires that the respondent bank filed an application dated 30.10.2014 before the District Magistrate under Section 14 of the Act praying for actual physical delivery of possession. On this application, the Additional District Magistrate (F&R), respondent No. 3 issued an order dated 4.3.2015 for delivery of physical possession pursuant to which the Additional Ci
























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