IDBI BANK LTD. Vs. STATE OF GUJARAT

JUDGEMENT

(1.) This petition under Articles 226 and 227 of the Constitution of India is filed or the purpose of seeking the following reliefs :-

(2.) It is the case of the petitioner that the petitioner has given financial assistance to Manish Gopalbhai Patel against the securities which are mentioned in the petition. All the necessary documentation has been validly executed and the valid mortgage deed in favour of the petitioner was also undertaken and executed with respect to the properties which are mentioned in the body of the petition. The account of the borrower became NPA on 09.07.2019 since the borrowers have not repaid the dues amount regularly. Resultantly, as per the guidelines framed by the Reserve Bank of India, the account became NPA and on account of such circumstance, the petitioner issued notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (for short the "Act") to the borrowers on 24.09.2019 for recovery of Rs.86,24,867.65 paise, but in response thereto, neither any reply nor any representation is made to the petitioner nor any amount is paid towards their dues which has necessitated the petitioner to prefer an application under Section 14 of the Act, 2002 on 21.03.2020.

(3.) Learned advocate Mr. Dhruvik Patel appearing for the petitioner has submitted that in an identical situation whenever such kind of eventualities are taking place, where Section 14 application is not getting decided, the Courts have to pass the order directing the authorities to take urgent decision and for that purpose, learned advocate Mr. Patel has referred to some of the decisions which are attached to the petition compilation and has requested that the authority be directed to decide the application under Section 14 of the Act.