The main legal point established in the judgment is the court's authority to provide limited protection to a borrower from auction-sale of secured assets under the SARFAESI Act, 2002, in cases where the borrower is unable to obtain relief due to non-availability of the Presiding Officer in the Debts Recovery Tribunal.

JUDGMENT

Manoj Kumar Tiwari, J. - Petitioner is a borrower against whom proceedings have been initiated by the lending Bank under SARFAESI Act, 2002. In this writ petition, petitioner has challenged the possession notice issued on 31.07.2021, under Section 14 of SARFAESI Act, 2002.

2. Learned counsel for the petitioner submits that due to non-availability of Presiding Officer in Debts Recovery Tribunal, Dehradun, remedy under Section 17 of SARFAESI Act, 2002 has become illusory. He further submits that in view of peculiar circumstances of the case, petitioner is entitled for protection till he obtains relief from the forum made available under Section 17 of the SARFAESI Act, 2002. Petitioner's counsel assures that petitioner shall file securitization application under Section 17 of the SARFAESI Act, 2002 before the appropriate forum, within two weeks.

3. Learned counsel for the respondent-Bank admits that Debts Recovery Tribunal at Dehradun is presently vacant and appointment of new Presiding Officer is possible within three weeks. He, however, submits that the secured assets have now been put up for public auction, which is scheduled to be held on 11.01.2022. He further apprised the Court that total outstanding amount against the petitioner as on 31.07.2021 is more than Rs. 4.39 crores.

4. In view of non-availability of Presiding Officer in Debts Recovery Tribunal, Dehradun, petitioner is not able to get desired relief from the forum provided under Section 17 of the SARFAESI Act, 2002. Thus, the matter calls for an interference and petitioner is entitled to a limited protection for a period of four weeks or till disposal of his interim relief application by the Tribunal.

5. Accordingly, it is provided that for a period of four weeks or till consideration of petitioner's interim relief application by Debts Recovery Tribunal, whichever is earlier, the auction-sale of the secured assets, if made, shall not be confirmed.

6. With the aforesaid direction, writ petition stands disposed of.

7. Let a certified copy of this order be issued to the parties within 24 hours.