AMIT KUMAR CHATTERJEE Vs. STATE OF U P

JUDGEMENT

(1.) Heard learned Counsel for the Petitioner, learned Standing Counsel for Respondent Nos. 1 and Shri P.N. Tripathi, learned Counsel for Respondent No. 2 and 3.

(2.) By this writ petition, Petitioner has prayed for quashing the notice dated 29.10.2010 and 23.11.2011 for sale of mortgaged property in exercise of power Under Section 13(4) of Securitisation Act.

(3.) Petitioner's case is that he has taken housing loan amounting to Rs. Six lac in the year 2004 from the Respondent. The Petitioner has made several payments from time to time details of which has been mentioned in Annexure-2 to the writ petition. The Petitioner submits that total amount balance has been shown on 11.3.2010 of Rs. 485212/-. The Petitioner submits that in the notice for sale the amount has been mentioned is Rs. 726235/-w.e.f. 1.8.2007. The Petitioner's case is that the loan was to be repaid in 20 years and the Petitioner has paid the installments substantially and sale of the auction of the house at this stage is harsh. On default being committed the Respondent initiated the recovery proceedings. Learned Counsel for the Petitioner submits that Petitioner is ready to make payment the entire outstanding amount plus interest provided he is given reasonable time to make deposit.