Court No. - 3

Case :- WRIT - C No. - 11224 of 2022

Petitioner :- Sarabjeet Singh

Respondent :- Lic Housing Finance Limited And Another

Counsel for Petitioner :- Ramesh Chandra Agrahari

Counsel for Respondent :- Pranjal Mehrotra

Hon'ble Surya Prakash Kesarwani,J.

Hon'ble Jayant Banerji,J.

Heard learned counsel for the petitioner and Shri Ashish Kumar

Gupta holding brief of Shri Pranjal Mehrotra, learned counsel

for the respondents.

A housing loan of Rs. 15 Lacs was sanctioned by the

respondents to the petitioner on 13.11.2019. Consequently, the

petitioner defaulted in payment of installments. According to

the petitioner due to unprecedented situation created on account

of pandemic Covid-19, he could not deposit the installments in

time. Consequently, the account of the petitioner was declared

as NPA on 16.3.2021. The respondents started taking action

under the provisions of SARFAESI Act by issuing a notice

dated 18.12.2021 under Section 13(2) of the SARFAESI Act.

The petitioner wants to pay the defaulted amount but the

respondents are not accepting it.

We find that the Reserve Bank of India has issued a Master

Circular dated 1.10.2021 "Prudential norms on I