ANANDA DAS Vs. MANAGER STATE BANK OF INDIA

JUDGEMENT

(1.) PETITIONER availed of a housing loan of Rs.8,00,000/- from the respondent Bank in 2005. It appears that default was committed as a result of which, proceedings under the SARFAESI Act were initiated for realizing a liability of Rs.9,14,100/-. According to the petitioner, immediately thereafter he paid Rs.3.15 Lakhs. However, since the liability is not fully discharged, recovery proceedings are continued and the Bank apparently has obtained an order under Section 14 of the Act enabling it to take over possession of the property. It is at that stage, the writ petition has been filed with a prayer to allow the petitioner to regularize the loan.

(2.) HEARD the learned counsel appearing for the respondent Bank who submits about the chronic default committed by the petitioner and also the action taken by the Bank for realizing its dues.