SANJAY DHIMAN Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Petitioner has admittedly taken a loan from the respondent bank, which he could not repay. Consequently, the account of the petitioner was declared as "Non Performing Assets" (in short "NPA") and later the bank proceeded under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (from hereinafter referred to as the "Act") for recovery of its loan amount.

(2.) Petitioner had earlier filed a writ petition before this Court being WPMS No.3108 of 2019, which was dismissed by this Court vide judgment and order dated 15.10.2019 on ground that the petitioner has an equally efficacious remedy to file an appeal under Section 17 of the Act before the Debts Recovery Tribunal.

(3.) During the pendency of the appeal before the Appellate Tribunal, a proposal came on the points that in case the entire amount is deposited by the petitioner, the proposal may be accepted.