G CHANDRIKA Vs. AUTHORIZED OFFICER

JUDGEMENT

(1.) THE issue involved is in respect of the steps taken by the respondent Bank by resorting to the remedy under the SARFAESI Act for realization of the amount stated as due under a loan transaction.

(2.) THE case of the petitioner is that, the petitioner has taken an education loan of Rs. 2,69,800/-(Rupees two lakhs sixty nine thousand and eight hundred) for pursuing the studies of her daughter. But the repayment of the loan amount could not be effected on time as scheduled and in the said circumstance, the Bank proceeded with steps as aforesaid, which is under challenge.

(3.) HEARD the learned counsel for the respondent Bank as well.