PRAHLAD KUMAR Vs. DISTRICT MAGISTRATE ALLAHABAD

JUDGEMENT

(1.) As per the averments made in the Writ Petition, the petitioner took housing loan for construction of house from the respondent no.3-State Bank of India in the year 2002.

(2.) The petitioner committed default in respect of the said loan. Consequently, proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short " the Securitisation Act") have been initiated against the petitioner.

(3.) We have heard Shri Satyaveer Singh, learned counsel for the petitioner, the learned Standing Counsel appearing for the respondent no.1 and Smt. Archana Singh, learned counsel for the respondent nos.2 and 3, and have perused the averments made in the Writ Petition.