The petitioner is aggrieved by the proceedings initiated against the properties of the petitioner for satisfaction of certain outstandings in a loan, which has been declared as an NPA and proceedings have been initiated and continued under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI)Act, 2002. The petitioner has specifically averred in the Writ Petition that, the respondent Bank has expressed willingness to stay the recovery proceedings if Rs.3,50,000/- has been paid. 2. However the learned standing counsel appearing for the respondent Bank denies the same and also raises a preliminary objection as to the maintainability of the Writ Petition, since the very same contentions were urged and agitated in another Writ Petition, the judgment of which is W.P.(C) No. 13244 of 2014 2 produced by the petitioner himself as Ext.P3.
3. It is evident from Ext.P3 that on 10.03.2014 a similar Writ Petition with respect to the very same loans was considered by this Court and satisfaction of the over due amounts, which was noticed to be Rs.37,53,854/-, was directed in six equal monthly instalments. It was also directed that, the first instalment shall be on the last working day of March, 2014. It is clear that, the petitioner has not complied with the above directions.
In such circumstance, the second Writ Petition filed on the very same grounds cannot be sustained. The Writ Petition is dismissed. No cost.
Sd/-
K. VINOD CHANDRAN, JUDGE SB // TRUE COPY // W.P.(C) No. 13244 of 2014 3