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HEMANT GUPTA, VIJAY KUMAR SHUKLA
Rehana Khursheed – Appellant
Versus
Authorised Officer, Dena Bank – Respondent
1. The petitioner has sought review of the order passed by this Court on 6.10.2017 whereby Writ Appeal No. 110/2017 was dismissed against an order impleading the present petitioner as legal heir of the deceased/borrower in proceedings under Section 14 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act').
2. The argument of the petitioner is that in terms of Article 121 of Schedule I of the Limitation Act, 1963, failure to implead legal heir within 90 days leads to abatement of the proceedings and thereafter legal heir can be impleaded only if a petition is filed for setting aside abatement.
3. Section 36 of the Act contemplates that no secured creditor shall be entitled to take all or any of the measures under sub-section (4) of Section 13, unless his claim in respect of the financial asset is made within the period of limitation as prescribed under the Limitation Act, 1963. Meaning thereby, the Limitation Act, 1963 is applicable in respect of the action to be taken by the secured creditor only. Other provisions of the Limitation Act, 1963 are not applicable to the proceedings under the Act. Similar quest
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