Sachidanand Verma v. The Union Of India And ORS

IN THE HIGH COURT OF JUDICATURE AT PATNA

Civil Writ Jurisdiction Case No.6206 of 2013 =========================================================== Sachidanand Verma, son of Late Tariwa Pd. Verma, resident of villageMoriyawan, P.O.- Datiyana, District- Patna .... .... Petitioner

Versus

1. The Union of India through the Chairman, Khadi and Gramodyog Ayog, Ministry of Micro, Small and Middle Scale Industries, Government of Bihar. P.O.- B.V. College, Shekhpura, Patna-800014

2. The State of Bihar through the Secretary, Industries Department, Government of Bihar, Patna

3. The District Magistrate, Patna

4. The Chief Manager, Punjab National Bank, Recovery Division, R-Block, Chanakya Place, Patna

5. The Authorised Officer, Punjab National Bank Secured Creditor, Branch Office, Datiyana, District- Patna

6. The Branch Manager, Punjab National Bank, Datiyana Branch, Patna

7. The Superintendent of Police/Commissioner of Police, Patna

8. The S.H.O. (Station House Officer), Datiyana Police Station, Patna .... .... Respondents =========================================================== Appearance :

For the Petitioner : Mr. Shambhu S.N. Singh, Advocate For the State : Mr. Lokesh Kumar Singh, AC to AAG 13 For the Bank : Mr. Kumar Priya Ranjan, Advocate =========================================================== CORAM: HONOURABLE MR. JUSTICE VIKASH JAIN ORAL JUDGMENT Date: 28-10-2016 Heard counsel for the learned counsel for the petitioner and learned counsel for the respondents.

2. The present writ petition has been filed for a direction to the respondents to grant six months' time to enable the petitioner to arrange payment of the outstanding amount of loan.

3. At the very outset, learned counsel for the respondentBank submits that the petitioner has adequate remedy against the notice issued under Section 13(4) of the Securitization and

Patna High Court CWJC No.6206 of 2013 dt.28-10-2016 2/2 Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, "SARFAESI Act") dated 23.03.2014 for approaching the Debts Recovery Tribunal.

4. Having regard to the stand of the respondents and with consent of the petitioner, the present writ petition is disposed of granting liberty to the petitioner to avail statutory remedy by approaching the Debts Recovery Tribunal for redressal of his grievances.

(Vikash Jain, J) B.T/- AFR/NAFR NAFR CAV DATE N.A.

Uploading Date 29.10.2016 Transmission Date N.A.