JAIVEER SINGH YADAV Vs. STATE OF U.P.

JUDGEMENT

(1.) The present Writ Petition has been filed, interalia praying for quashing the recovery/ auction proceedings initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short " the Securitisation Act").

(2.) It appears that the petitioner took housing loan from the respondent no. 3- State Bank of India, Branch Govind Nagar, Kanpur Nagar in the year 2005. The petitioner committed default in payment of the said loan. Consequently, proceedings under the Securitisation Act have been initiated against the petitioner.

(3.) Sri A. K. Mishra, learned counsel appearing for the respondent Nos. 2 & 3, on the basis of the instructions received by him, has stated that the petitioner had earlier filed a Writ Petitoin being Civil Misc. Writ Petitoin No. 30809 of 2010 before this Court impugning the aforesaid proceedings being taken against him under the Securitisation Act. This Court by the Order dated 25.5.2010 disposed of the said Writ Petition on the ground that the petitioner had an alternative remedy of approaching the Debts Recovery Tribunal under Section 17 of the Securitisation Act.