BHUMIKA MARBLES Vs. UNION OF INDIA

JUDGEMENT

(1.) RULE. Learned Advocates for the respondents are directed to waive service of Rule. The petition is taken up for final hearing and disposal today in light of the view that the Court is inclined to adopt. The petition has been preferred for following reliefs :

(2.) IT is not necessary to enter into the larger controversy as to challenge to legality of Rule 8 (5) of the Security Interest (Enforcement) Rules, 2002 in light of the undisputed facts which have come on record.

(3.) NOTICE under section 13 (2) of the Securitisation and Reconstruction of of Financial Assets and Enforcement of Security Interest Act, 2002 (the Securitisation Act) dated 20. 2. 2009 came to be issued to the petitioner by respondent Bank and on 13. 3. 2009 the petitioner tendered reply in the form of representation as provided by section 13 (3a) of the Securitisation Act. The respondent Bank did not communicate within the stipulated time of one week from receipt of such representation or objection the reasons for non-acceptance of the representation or objection. Instead the respondent Bank took possession of the property in question on 6. 8. 2009 and thereafter proceeded to sell the same by public auction as per Public Notice published on 27. 8. 2009. The date of auction was fixed to be 9. 9. 2009.