ARUN KUMAR Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) The present writ petition has been filed under Article 226 of the Constitution of India with the following prayers: -

(2.) The case of the petitioner is that he took an industrial loan of Rs.53.00 Lakh from the respondent no. 1 - Bank. He paid Rs.15.00 Lakh to the bank. On 19/9/2011, a notice w as issued to him under Sec. 13(2) of the Securitisation and Reconstruct ion of Financial Assets and Enforcement of Security Interest Act, 2002 to pay Rs.65,59, 626.00 -. The respondents took possession of his immovable property on 18/2/2012. An auction notice dtd. 20/1/2025 has been issued by the Authorized Officer of the Bank for the outstanding loan amount of Rs.65,59,626.00 -, according to which his immovable property is to be auctioned on 12/2/2025.

(3.) Heard Mr. Shubhang Dobhal, learned counsel for the petitioner and Mr. Siddhartha Jain, learned counsel for the respondents.