The petitioners were aggrieved by the recovery proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity “SARFAESI Act”) for recovery of the defaulted loan amounts. The petitioners were before this Court in an earlier writ petition [W.P.(C).No.32957 of 2011], which was disposed of by granting ten instalments. 2. Even according to the petitioners, they remitted three instalments and thereafter defaulted. The petitioners have a contention that the 2nd petitioner met with an accident and was incapacitated. In such context, the petitioners should have approached this Court within a reasonable time. The petitioners have now approached this Court, again; when the Bank initiated recovery proceedings and prays for further instalments. The petitioners also contend that no statement of the accounts have been received as such.
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3. The respondent-Bank promptly places before this court the amounts due, being Rs.46,02,083/- as on 09.05.2014. The petitioners then raise an objection with respect to the exact amounts due. It is to be noticed that even in Exhibit P1 they had not disputed the liability to pay or the quantum. The learned counsel for the respondent-Bank also submits that despite possession of the property having been taken over under the SARFAESI Act with proper orders from the jurisdictional Chief Judicial Magistrate Court, the petitioners trespassed into the property and resumed possession.
Considering all the above circumstances, the writ petition is found to be devoid of merit and the same is, accordingly, dismissed. Parties are left to suffer their respective costs.
Sd/- K.Vinod Chandran Judge.
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