LAWS(GJH)-2010-2-106

DIPAK MANUBHAI PATEL Vs. SYNDICATE BANK

Decided On February 08, 2010
DIPAK MANUBHAI PATEL Appellant
V/S
SYNDICATE BANK Respondents

JUDGEMENT

(1.) Heard Mr.Ajay Mehta, learned advocate for the petitioner and Mr.Abhijit Joshi, learned advocate for the respondent - bank.

(2.) The petitioner has challenged the action of the respondent - bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "the Securitisation Act") and it is also prayed by the petitioner to direct the bank to apply one time settlement scheme to the account of the petitioner.

(3.) It appears that the petition is filed at a stage when the notice under Section 13(2) of the Securitisation Act has been issued. If the petitioner is desirous to make appropriate representation to the bank by way of submitting reply to the notice under Section 13(2) of the Securitisation Act, such was permissible. But, it appears from the record that, in stead of some viable proposal for payment of substantial amount, the petitioner has served a counter notice.