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Allahabad High Court · body

2011 DIGILAW 64 (ALL)

AMIT KUMAR CHATTERJEE v. STATE OF U. P.

2011-01-11

ASHOK BHUSHAN, SHYAM SHANKAR TIWARI

body2011
JUDGMENT By the Court.—Heard learned counsel for the petitioner, learned Standing Counsel for respondent Nos. 1 and Shri P.N. Tripathi, learned counsel for respondent No. 2 and 3. 2. By this writ petition, Petitioner has prayed for quashing the notice dated 29.10.2010 and 23.11.2011 for sale of mortgaged property in exercise of power u/s 13(4) of Securitisation Act. 3. Petitioner’s case is that he has taken housing loan amounting to Rs. Six lac in the year 2004 from the respondent. The petitioner has made several payments from time to time details of which has been mentioned in Annexure-2 to the writ petition. The petitioner submits that total amount balance has been shown on 11.3.2010 of Rs. 485212/-. The petitioner submits that in the notice for sale the amount has been mentioned is Rs. 726235/- w.e.f. 1.8.2007. The petitioner’s case is that the loan was to be repaid in 20 years and the petitioner has paid the installments substantially and sale of the auction of the house at this stage is harsh.On default being committed, the respondent initiated the recovery proceedings. Learned counsel for the petitioner submits that petitioner is ready to make payment the entire outstanding amount plus interest provided he is given reasonable time to make deposit. 4. Learned counsel for the Bank submits that Bank has no objection provided the petitioner pays the entire outstanding amount plus interest within time allowed by this Court, the Bank may not proceed against the petitioner under Section 2002 Act and in the event of default in making payment, as directed by this Court, liberty be given to the Bank to proceed further under the 2002 Act. 5. Considering the facts and circumstances of the present case, ends of justice be served in disposing of the writ petition with the following directions : 1. The petitioner shall deposit the entire outstanding installments up to 30.4.2011 and continue to pay the regular installment from 1.4.2011. 2. The bank shall provide the details of the outstanding installments to the petitioner within one month from the date of production of copy of the order. 3. Subject to payment as directed above, no coercive measures shall be taken against the petitioner under 2002 Act; 4. 2. The bank shall provide the details of the outstanding installments to the petitioner within one month from the date of production of copy of the order. 3. Subject to payment as directed above, no coercive measures shall be taken against the petitioner under 2002 Act; 4. In event of any default in making the payment as directed above, the recovery proceedings shall revive and the Bank may proceed against the petitioner in accordance with the SARFESI Act, 2002. 5. The amount already deposited by the petitioner shall be adjusted. With the above directions the writ petition is disposed of. —————