Hari Shankar Prasad And ORS v. The Indian Overseas Bank And ORS

IN THE HIGH COURT OF JUDICATURE AT PATNA

Civil Writ Jurisdiction Case No.5549 of 2017 ===========================================================

1. Hari Shankar Prasad, proprietor of M/S Hari Shankar Prasad, S/o Late Bajrang Singh, resident of Road No.-18, South Rajiv Nagar, PO- Keshri Nagar, Patna800024.

2. Smt. Asha Devi, W/o Sri Hari Shankar Prasad, resident of Road No.-18, South Rajiv Nagar, PO- Keshri Nagar, Patna- 800024.

3. Sri Pradeep Kumar, S/o Late Mahendra Prasad, Loco Colony, Quarter No.- 448, Khagaul, Patna.

.... .... Petitioner/s

Versus

1. The Indian Overseas Bank through its Regional Manager, Gandhi Maidan, Near Biscoman, Patna- 800001.

2. The Regional Manager, Indian Overseas Bank, Regional Office, Naseema Building, West Gandhi Maidan, Patna- 800001.

3. The Branch Manager, Indian Overseas Bank, Boring Road, Shree Sadan, 1st Floor, H.No.-09, Patliputra Golambar, Oppsite Ruban Hospital, Patna- 800013. .... .... Respondent/s =========================================================== Appearance :

For the Petitioner/s : Mr. Satish Kumar Agrawal For the Respondent/s : Mr. Sanjay Singh Thakur =========================================================== CORAM: HONOURABLE MR. JUSTICE SHIVAJI PANDEY ORAL JUDGMENT Date: 28-06-2017 Heard learned counsel for the petitioners and learned counsel for the Bank.

In the present case, petitioner is challenging the action of the Bank under section 13(2) of the SARFAESI ACT, 2002 as the accounts of the petitioners having been declared nonprofitable account. As has been informed by the Bank petitioners have two accounts one for cash credit facility of Rs.23,00,000/- and the term loan of Rs.14,44670/- and up-to the date of issuance of notice the total outstanding dues was Rs.32,39,502/- and the

Patna High Court CWJC No.5549 of 2017 dt.28-06-2017 amount has gone up adding the interest amount. Learned counsel for the Bank submits that petitioners have not deposited any single farthing in order to liquidate the outstanding dues. It has been submitted that property in question was taken in possession symbolic. He further submits that there is alternative forum for the petitioner to raise his grievance before the Debt Recovery Tribunal under Section 17 of the SARFAESI ACT.

In such view of the matter, petitioners are directed to file proper application before the Debt Recovery Tribunal under Section 17 of the SARFAESI ACT and if such an application is filed by the petitioners within the statutory period, the Presiding Officer of the Debt Recovery Tribunal will examine the same and dispose of the same in accordance with law.

With the aforesaid observation and direction this writ petition is disposed of.

Vinay/- (Shivaji Pandey, J) AFR/NAFR NAFR CAV DATE NA Uploading Date 29.6.2017 Transmission Date NA