TECHNO BUILDERS Vs. CANARA BANK

JUDGEMENT

(1.) The petitioner is the partnership firm and it availed Housing Finance facilities from the 1st respondent Bank, vide Sanction letter dated 03.10.2007 and in view of the default committed in payment of dues, action was initiated under the provision of the Securatization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the SARFAESI Act') by issuing notice under Section 13(2) dated 15.03.2017.

(2.) The learned counsel appearing for the petitioner would submit that in respect of the said notice, reply was also given stating that due to 2015 mega floods, the petitioner Firm was unable to carryout day to day work/activities and as such prayed for some accommodation to settle the dues. Notice under Section 13(2) of SARFAESI Act dated 15.03.2017 was followed by notice under Section 13(4) of the said Act dated 17.04.2017. It was also followed by auction notice fixing the date of auction on 29.06.2019 and from the submission made by the learned counsel appearing for the petitioner, there was one bidder in the auction and the auction was knocked down in his favour. The 1st respondent Bank moved the 2nd respondent under Section 14 of the SARFAESI Act for getting actual physical possession of the asset and the 2nd respondent in turn has sent a communication dated 06.08.2019 to the Tahsildar, Maduravoyal in R.C.No.J14/22414/2019 dated 06.08.2019 calling upon him to cause enquiry and submit his report and copy of the said communication was also marked to the petitioner as well as to his partners. The petitioner Firm, on becoming aware of such a move on the part of the 2nd respondent, filed their objections dated Nil and thereafter came forward to file this Writ Petition stating among other things that challenging the recovery proceedings, appeals are also pending and that apart very many Civil Suits are pending and as such the 2nd respondent shall defer further proceedings under Section 14 of the SARFAESI Act.

(3.) Mr.Akhil Akbar Ali, learned Government Advocate accepts notice on behalf of the 2nd respondent.