SARITA BAJPAI Vs. PNB HOUSING FINANCE LIMITED

JUDGEMENT

(1.) Respondent PNB Housing Finance Limited has issued pre-sale notice dated 2-6-2017 and also issued auction notice to the petitioner, who is a co-borrower along with Late Shri Sanjay Bajpai, for sale/auction of secured asset, under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the SARFAESI Act') against which the present writ petition has been preferred.

(2.) Learned counsel for the petitioner would submit that the entire proceeding initiated against a dead person is unsustainable and bad in law and as such, the notices Annexure P-1 and P-2 deserve to be quashed.

(3.) Learned counsel for the respondent would submit that the petitioner is co-borrower along with Late Shri Sanjay Bajpai which is apparent from Annexure P-2 (serial No.7) as well as notice Annexure P-5 and, therefore, the Bank has rightly proceeded and physical possession has already been taken from the petitioner. Therefore, the petitioner has alternative remedy of filing application under Section 17 (1) of the SARFAESI Act.