Ram Babu v. State of U. P. Thru. Prin. Secy. , Deptt. of Home
2015-11-26
D.Y.CHANDRACHUD, NARAYAN SHUKLA
body2015
DigiLaw.ai
JUDGMENT The Collector and District Magistrate has passed an order on 7 September 2015 against the petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The Bank having taken measures under Section 13 (4) of the Act, the petitioner has independently also challenged the action of the Bank by taking recourse to the provisions of Section 17 of the Act and availing of the remedy before the Debts Recovery Tribunal. 2. Undoubtedly, the order of the Collector and District Magistrate under Section 14 is not amenable to challenge under Section 17. However, in the facts of the present case, we are not inclined to entertain the petition since the basic fact about the loan having been taken by the borrower and the default is not in dispute. As on 31 July 2014, the amount of outstanding was Rs.10.77 lacs upon which interest would be liable to be paid. 3. During the course of the hearing, we had enquired of the learned counsel appearing on behalf of the petitioner whether the petitioner is ready and willing to deposit the outstanding amount subject to his rights and contentions in the pending appeal before the Tribunal. Though the learned counsel for the petitioner states that the petitioner is trying to arrange funds, evidently, no firm commitment is forthcoming so as to secure the moneys of the Bank. Hence, we see no reason to entertain the petition. The petition is dismissed. There shall be no order as to costs.