Court No. - 38
Case :- WRIT - C No. - 6143 of 2019 Petitioner :- Mohd. Tariq Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Sanjay Kumar Srivastav Counsel for Respondent :- C.S.C.,Abhishek Mishra
Hon'ble Abhinava Upadhya,J. Hon'ble Jayant Banerji,J.
Heard Sri Sanjay Kumar Srivastava, learned counsel for the petitioner and Sri Abhishek Mishra, learned counsel appearing for the respondents-Bank.
For recovery of loan, a notice of possession of the secured assets has been issued under Section 13(4) of the Securitization and Reconstruction of the Financial Assets and Enforcement of Security Interest Act, 2002 (the SARFAESI Act).
The petitioner claims that he is ready to pay the loan provided some instalments is fixed. It is to be noted that once the proceedings under the SARFAESI Act has been initiated, the Court is reluctant to interfere in the same. The petitioner also has a remedy under Section 17(1) of the Act by filing an application before the Debt Recovery Tribunal.
In view of the statutory remedy available to the petitioner, we are not inclined to interfere in this writ petition.
The writ petition is, accordingly, dismissed.
Order Date :- 22.2.2019 sfa/ (Jayant Banerji, J) (Abhinava Upadhya, J)