The petitioner has approached this Court challenging the steps taken by the respondent Bank invoking the remedy under the SARFAESI Act so as to realise the amount due under the loan transaction.
2. When the matter came up for consideration on 07.01.2010, the following interim order was passed:
“Notice on admission. The sale notified as per Ext.P3, scheduled to be held tomorrow, will be kept in abeyance on condition that the petitioner deposits a sum of Rs. Three lakhs within three weeks. The respondents shall file a statement forthwith.”
3. The learned Standing Counsel for the respondent Bank submits that the petitioner continued to be a defaulter and no amount has been paid ; simultaneously adding that the total liability is around Rs.26.95 lakhs. There is no representation for the petitioner as well. The writ petition is dismissed for non-prosecution.
P.R.RAMACHANDRA MENON JUDGE lk 2