Court No. - 38
Case :- WRIT - C No. - 25134 of 2018 Petitioner :- Rajveer Singh Bhadauriya Respondent :- Debts Recovery Tribunal And 2 Others Counsel for Petitioner :- Dharmendra Pratap Singh Counsel for Respondent :- Krishna Mohan Asthana Hon'ble Abhinava Upadhya,J. Hon'ble Shashi Kant,J.
Heard learned counsel for the parties.
The petitioner had taken a loan for a sum of Rs.30,46,900/- from respondent nos.2 and 3 which are financial institution. The petitioner defaulted in payment and, therefore, provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "Act, 2000") were set in motion.
The petitioner claims that he has already filed a securitization application, which is pending before the Debt Recovery Tribunal. Now, an auction notice has been issued fixing 27th July, 2018 and hence this writ petition.
Since the petitioner has already availed remedy under Section 17 of Act, 2002, we are not inclined to interfere but since the petitioner's appeal is pending, any auction, which is scheduled to be held tomorrow, shall be subject to final decision in the said securitisation application.
With the above direction, the writ petition is disposed of.
Order Date :- 26.7.2018 KA
(Shashi Kant,J.) (Abhinava Upadhya,J.)