Court No. - 29
Case :- WRIT - C No. - 23526 of 2019 Petitioner :- Ashish Kumar Respondent :- Bank Of Baroda And 3 Others Counsel for Petitioner :- Sundeep Agarwal Counsel for Respondent :- Anadi Krishna Narayana
Hon'ble Pankaj Mithal,J. Hon'ble Saral Srivastava,J.
Heard Sri Sandeep Agarwal, learned counsel for the petitioner and Sri A. Narayan, learned counsel for the Bank of Baroda.
On account of default in the payment of the loan amount, proceedings under Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (In short SARFAESI Act) were drawn against the petitioner. After the possession of the secured asset was taken over under Section 14 of the SARFAESI Act, the same ie. House No.427, EWS, Barra- 4, Kanpur Nagar was put to auction and has been sold. The sale has already been confirmed.
The petitioner has filed this writ petition challenging the order passed under Section 14 of the SARFAESI Act and the entire sale proceedings.
At this stage it is too late for the petitioner to challenge the order of physical possession of the asset that too when he is not disputing the liability to pay the dues of the bank.
The submission of learned counsel for the petitioner that he is ready and willing to make the entire payment is of no consequence inasmuch as the property has already been sold and the rights of a third party have intervened.
In view of the aforesaid facts and circumstances, we find no substance in the petition and the same is dismissed with liberty to the petitioner to submit his offer if any before the bank or the third party.
Accordingly, the Writ Petition is dismissed.
Order Date :- 30.7.2019 piyush