ABDUL KARIM Vs. ADDITIONAL DISTRICT MAGISTRATE

JUDGEMENT

(1.) From the averments made in the Writ Petition, it appears that loan was taken by the respondent No.3 (Anand Kumar) from the respondent No.2- Allahabad Bank. The property in question, namely, House No. 1/1-A, Jamna Nagar, Hapur Road, Meerut, was given as security for the said loan. The petitioner claims to be tenant of the said house.

(2.) As the respondent No. 3 committed default in payment of loan, proceedings under The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short "the Securitization Act") have been initiated against the respondent No.3.

(3.) An order dated 31 st August, 2010 under Section 14 of the Securitization Act was passed by the Additional District Magistrate (Finance & Revenue), Meerut for taking possession of the aforesaid house (secured asset).