PHR INVENT EDUCATIONAL SOCIETY Vs. UCO BANK

JUDGEMENT

(1.) Leave granted.

(2.) This appeal challenges the order dtd. 4/2/2022, passed by the Division Bench of the High Court for the State of Telangana at Hyderabad in Writ Petition No. 5275 of 2021, whereby the High Court disposed of the writ petition filed by Dr. M.V. Ramana Rao, respondent No. 3 herein (hereinafter referred to as 'the Borrower'). The High Court set aside the order dtd. 2/2/2021, passed by the Debts Recovery Tribunal-II at Hyderabad (hereinafter referred to as 'DRT') and allowed Miscellaneous Application (M.A.) No. 97 of 2020 in Securitization Application (S.A.) No. 1476 of 2017 filed by the Borrower for the restoration of the said S.A. No. 1476 of 2017 filed by him under Sec. 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act' for short). The Borrower had filed S.A. No. 1476 of 2017 against the Notice dtd. 2/9/2017 issued by the UCO Bank (hereinafter referred to as the 'Respondent-Bank') for the sale of his mortgaged properties which was to be conducted by the Authorized Officer (Respondent No.2) of the Respondent-Bank in light of the default in repayment of loan by the Borrower. The DRT, in its aforementioned order dtd. 2/2/2021, had dismissed the M.A. No. 97 of 2020 for the restoration of S.A. No. 1476 of 2017, which had been previously dismissed as withdrawn vide DRT vide order dtd. 21/9/2020. The Division Bench of the High Court, in the impugned order, while setting aside the order of DRT dtd. 2/2/2021, further directed DRT to proceed with S.A. No. 1476 of 2017 in accordance with law.

(3.) The facts, in brief, giving rise to the present appeal are as under: