WP(C) 4021/2015

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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Judgement delivered on: 23.04.2015

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WP(C) 4021/2015 & CM 7192/2015

DR. YASHWANT SINGH & ANR.

..... Petitioners

Versus

INDIAN BANK & ANR.

..... Respondents

Advocates who appeared in this case:

For the Petitioner:

Mr Mohit Chaudhary & Ms Damini Chawla, Advocates

For the Respondent: Mr Brijesh Kumar Tamber, Mr Arshad Chaudhary & Mr Quaisar

Ali, Advocates.

CORAM:

HON'BLE MR. JUSTICE RAJIV SHAKDHER

RAJIV SHAKDHER, J

1. There are several reliefs sought for in the present writ petition. Shorn

of verbiage the main grievance of the petitioners is, that the respondent no.1,

i.e., the Indian Bank, has taken recourse to the provisions of Securitisation

and Reconstruction of Financial Assets and Enforcement of Security Interest

Act, 2002 (in short 2002 Act), [as amended by the Act of 2012] without the

jurisdictional facts obtaining in the matter. In other words, the petitioners

claim that the regime provided under the 2002 Act could not be triggered till

such time the subject loan account was classified as a Non-Performing Asset

(in short NPA).

1.1

This submission