Court No. - 38
Case :- WRIT - C No. - 6367 of 2019 Petitioner :- M/S Chandra Enterprises And 3 Others Respondent :- Branch Manager, Bank Of India And Another Counsel for Petitioner :- Arvind Kumar Counsel for Respondent :- Satish Chaturvedi
Hon'ble Abhinava Upadhya,J. Hon'ble Jayant Banerji,J.
Heard Shri Arvind Kumar, learned counsel for the petitioner and Shri K.P. Srivastava, learned counsel appearing for the Bank.
A notice under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act has been issued for taking possession of the secured asset. The petitioners submits that they are ready to pay provided they be given some time. If the petitioners are ready to pay then the petitioners ought to have paid the amount demanded. If they want to seek further time it is between the Bank and the petitioners.
So far as the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act is concerned, if there is any procedural defect, the petitioners can approach the Debts Recovery Tribunal under Section 17(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. In writ proceedings these orders cannot be passed.
With the aforesaid observation, this writ petition is disposed of.
Order Date :- 22.2.2019 A. V. Singh (Jayant Banerji, J.) (Abhinava Upadhya, J.)