Court No. - 38
Case :- WRIT - C No. - 2927 of 2019 Petitioner :- Virendra Kumar And Another Respondent :- State Of U.P. And Another Counsel for Petitioner :- Yogendra Pal Singh Counsel for Respondent :- C.S.C.,Anadi Krishna Narayana Hon'ble Abhinava Upadhya,J.
Hon'ble Dr. Yogendra Kumar Srivastava,J.
Heard the learned counsel for the petitioners and Sri Sandeep Kumar Singh, learned counsel representing the respondent bank.
This is a writ petition against a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short the 'SARFAESI Act').
The petitioners pray that they accept the liability and are ready to pay the amount in installment.
It is to be understood that once proceedings under the SARFAESI Act has been initiated, the Court cannot enter into the question of fixing installment. However, it is open to the petitioner to approach the bank for the said relief. So far as notice under Section 13(2) of the SARFAESI Act is concerned the petitioners can file their objections and as such we are not inclined to interfere in such proceedings.
Under Section 13(3A) the petitioners may make any representation or raise any objection, and in case any such representation is made, the same may be considered by the bank in accordance with law.
With the observations made above, the writ petition is disposed of.
Order Date :- 29.1.2019/Shahroz
(Dr. Y.K. Srivastava,J.) (Abhinava Upadhya, J.)