MANOJ KUMAR TIWARI
Sahota Seeds Ltd. Village Narayanpur, Kashipur – Appellant
Versus
Punjab National Bank, Mid Corporate Center – Respondent
JUDGMENT
Manoj Kumar Tiwari, J. - Since common questions of fact and law are involved in these writ petitions, therefore, these petitions are clubbed together and are being heard & decided together. However, for the sake of convenience, facts of WPMS No. 2116 of 2021 are being considered.
2. Petitioner is a borrower, who is facing proceedings under SARFAESI Act, 2002 for alleged default in repayment of loan. Petitioner has challenged the notice issued to him under Section 13 (2) and also the order passed on their representation under Section 13 (3A) of SARFAESI Act, 2002.
3. Learned counsel for the respondent-Bank submits that a notice has now been issued under Rule 8(1) of the Security Interest (Enforcement) Rules, 2002 r/w Section 13 (2) of SARFAESI Act, 2002. He further submits that petitioner has a remedy under Section 17 of the Act.
4. Petitioners’ counsel points out that the lending Bank has issued notice for e-auction of the secured assets under Rule 9 (1) of the Security Interest (Enforcement) Rules, 2002.
5. Regarding preliminary objection raised on behalf of the respondent-Bank, learned counsel for the petitioner submits that Debts Recovery Tribunal, Dehradun is not functionin
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.