JAYANTKUMAR KALUBHAI SAGAR Vs. SHRIRAM HOUSING FINANCE LTD.

JUDGEMENT

(1.) By way of present petition, the petitioners have prayed for the following reliefs :

(2.) The case of the petitioners in nut­shell is that the petitioners availed financial facility from the respondent No.1 - financial Institution. Initially, the petitioners paid installments regularly. However, subsequently, due to demonetization and implementation of GST, the petitioners faced financial crisis and therefore, the petitioners could not make payments of installments regularly. The account of the petitioners was declared as NPA (Non­performing assets) and on 06.02.2018, the respondent No.2 issued 13(2) notice under the provisions of the SARFAESI Act, 2002, wherein the petitioners were called upon to pay sum of Rs.1,76,08,794/­, therefore, the petitioners are before this Court.

(3.) It is pertinent to note that the Co­ordinate Benches of this Court had time and again granted extension and restrained the respondents from recovering dues. The petitioners have also filed undertaking that they will pay full dues of the respondents and pay regular installments but they are not able to pay the installments regularly as promised. At the time of hearing pointed question was asked to the petitioners as to how this petition is maintainable.