NATVARBHAI JIVABHAI PATEL Vs. ALLAHABAD BANK

JUDGEMENT

(1.) Heard learned advocate Mr.Maulik Nanavati for the petitioners and learned advocate Mr.Niraj Vasu who appeared on behalf of respondent - Bank upon being served with a copy of petition.

(2.) By filing this petition, petitioners pray to set aside order dated 07th November, 2017 passed by the District Magistrate, Gandhinagar, under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 as well as the consequential notice for taking possession of the mortgaged properties dated 03rd January, 2018.

(3.) The facts may be summarised thus. One Ricon Industries owned by respondent No.2 herein was the original borrower who took loan from respondent No.1 Bank and mortgaged the land and his flat built on the land. The land belonged to one Natvarlal Ambalal Patel - respondent No.3 herein who stood guarantor to the borrowing transaction. The petitioners claimed to be the occupants of the shop or flat constructed on the land described as Plot No.538/2, Nandanvan Society, Sector 22, Gandhinagar, and the residential flat and shop constructed thereon.