AVANTIKA BAR AND RESTAURANT Vs. CANERA BANK

JUDGEMENT

(1.) By means of the instant petition, the petitioner seeks the following relief:-

(2.) Heard learned counsel for the parties and perused the record.

(3.) It is the case of the petitioners that he opened a Cash Credit Limit of Rs.19.00 Lakhs from the respondent-Bank for running M/s Avantika Bar and Restaurant. The petitioner repaid the instalments, but, subsequently, he could not deposit the instalments, as the Bar licence was cancelled. Thereafter, proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('the SARFAESI Act') were taken against the petitioner. The property has already been taken into possession and it is put to e-Auction, which was scheduled yesterday.