ANIL KUMAR AGRAWAL Vs. ICICI BANK

JUDGEMENT

(1.) BY this petition, the petitioner seeks quashing the entire proceeding recommenced by the respondent by sending another notice 07.01.2011 (Annexure P/3) under section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act').

(2.) LEARNED counsel appearing for the petitioner submits the petitioner had availed various loans and credit facilities from the respondent bank. Since there were certain defaults in payment of loan installments as per the terms agreed, the respondent bank issued notice under section 13(2) of the Act, 2002 on 21.03.2009, which was replied on 05.05.2009 but the same was denied to be accepted by the respondent bank. The respondent Bank, thereafter, proceeded under section 14 of the Act, 2002 which was challenged by the petitioner before this Court in W.P.(C) No. 5040/2009. the said petition was allowed directing the respondent bank to decide the objection filed by the petitioner within a period of 10 days and pass speaking and reasoned order and communicate the same to the petitioner. However, the respondent-bank has issued another notice under section 13(2) of the Act, 2002 on 07.01.2011 (Annexure P/3). The petitioner replied to the said notice on 25.02.2011 (Annexure P/4) taking various objections regarding maintainability etc. Shri Sharma further submits that the respondent-Bank has further issued a corrigendum letter dated 04.02.2011 (Annexure P/5) to rectify the irregularities in the earlier notice dated 07.01.2011 issued under section 13(2) of the Act, 2002.