SOLITAIRE ENTERPRISES Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This intra-Court appeal is preferred by the petitioner in Writ Petition (M/S) No. 3476 of 2019 aggrieved by the order dated 15.11.2019 passed by the learned Single Judge disposing of the writ petition.

(2.) The appellant herein invoked the jurisdiction of this Court seeking a writ direction to quash the letter of the respondent-Bank dated 16.10.2019 directing the appellant-writ petitioner to deposit Rs. 6,51,238.52 with respect to interest for the period from 01.01.2018 to 15.10.2019, and legal charges of Rs. 2,00,000/-; and for a writ of mandamus directing the respondent-Bank to forthwith issue a 'No Dues Certificate' to the appellant-writ petitioner, and return the original title-deed in respect of the immovable property mortgaged with the respondent-Bank against the appellant-writ petitioner's loan account.

(3.) Facts, to the limited extent necessary, are that the appellant-writ petitioner availed cash credit facility from the respondent-Bank, which was secured against the mortgage of the dwelling unit of the guarantor. On a notice being issued under Section 13 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the 'SARFAESI Act') on 09.02.2018, declaring the appellant-writ petitioner's loan account as a 'non-performing asset', a demand notice for Rs. 41,73,748,with further interest with effect from 01.01.2018 until payment in full is made and for other charges, was issued on 31.01.2019.