SAKIRALI JALILAHMED KURESHI Vs. ALLAHABAD BANK

JUDGEMENT

(1.) Petitioner by way of this petition is the main borrower, who has mortgaged his residential property with respondent No. 1 Allahabad Bank. The petitioner is aggrieved by the process of recovery under the provisions of the Securitization and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002 ("the Act" for short).

(2.) According to the petitioner, no notice under sections 13(2) and 13(g) of the Act had been issued. Straightaway, under section 14 of the Act, the District Magistrate had issued the notice on 14.03.2018. It is further his say that he has paid Rs. 2.50 lakhs out of Rs. 12,37,754/- shown in the notice under section 14 of the Act.

(3.) At this stage, learned advocate Ms. Shivani Rajpurohit has urged that pending the admission, the Court may stay the implementation and execution of the order dated 14.03.2018. She is, however, unable to state as to what has happened after the order dated 14.03.2018 is passed. It is not in dispute that the possession of the property is not taken till date and in the interregnum, the amount of Rs. 2.50 lakhs had been paid by the applicant.