Priyanka Kumari v. Union Bank Of India

CM-18448-CWP of 2023.

Prayer in this application is for recalling order dated 09.08.2023 vide which this writ petition was dismissed for non-prosecution and restoration thereof.

Notice of the application.

Mr. Gaurav Goel, Advocate, accepts notice on behalf of the non-applicant-respondent-Bank and does not raise objection to restoration of writ petition.

For reasons mentioned in the application as well as stand taken by learned counsel for non-applicant-respondent-Bank, order dated 09.08.2023 is recalled and this writ petition is restored at its original number. At request and with consent of learned counsel for the parties, writ petition is taken up for hearing today itself. Application is accordingly disposed of.

CWP No. 5239 of 2022.

1.

Prayer in this writ petition is for setting aside notice dated 18.01.2022, Annexure P-2, under Section 13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act'). It is further prayed that all subsequent proceedings initiated by respondent-Bank under SARFAESI Act be set aside and respondent-Bank be directed to allow at-least six months to the petitioner to deposit entire outstanding dues. 2.

It is submitted that petitioner along with her husband were directors of JAP Infratech Private Limited and construction work was being carried out by the said company incorporated on 28.01.2023. Loan facilities were availed of by the petitioner and her husband as detailed in para 4 and 7 of the writ petition. Due to outbreak of pandemic COVID-19 and suffering of petitioner's husband from Bi-Polar disease, business ran into loss leading to financial indiscipline on the part of the petitioner and borrower. Accounts were declared Non Performing Asset (NPA) on 05.10.2021. Proceedings under SARFAESI Act were initiated by respondent-Bank for recovery of amount due. It is pleaded that notice dated 18.01.

2022, Annexure P-2, under Section 13(2) of SARFAESI Act is absolutely illegal, arbitrary and in contravention of provisions of SARFAESI Act and The Security Interest (Enforcement) Rules, 2002 (for short 'Rules, 2002'). It is pleaded in the writ petition that period of six months should be afforded to petitioner to settle the accounts in question. It is thus prayed that this writ petition be allowed. 3.

Writ petition has been opposed by learned counsel for respondent while firstly raising preliminary objection qua entertainability of this writ petition. It is further submitted that action taken against petitioner and her husband under SARFAESI Act is in accordance with provisions of law. No amount whatsoever has been tendered by petitioner or her husband

despite huge outstanding. It is thus prayed that this writ petition be dismissed.

4.

Heard learned counsel for the parties.

5.

In the present case availing of loan facility and financial indiscipline on the part of borrower is a matter of record.