RAJENDRA KUMAR SHARMA Vs. ALLAHABAD BANK

JUDGEMENT

(1.) Supplementary affidavit has been filed today on behalf of the petitioner. Let the same be placed on record. As per averments made in the writ petition, the petitioner took loan from the respondent No. 2-Allahabad Bank for purchasing a Flat in the year 2008. The property in question was given as security for the said loan.

(2.) The petitioner committed default in payment of the said loan. Consequently, 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 petitioner.

(3.) Mr. P.N. Tripathi, learned Counsel for the respondent Nos. 1 and 2 states that the property given as security for the said loan has already been auctioned and sold and sale certificate has been issued on 28.6.2011.