DILIP KUMAR NISHAD Vs. STATE OF U. P.

JUDGEMENT

(1.) Heard Shri Istiyak Khan, learned counsel for the petitioner, Shri Satish Chaturvedi, learned counsel appearing on behalf of respondent No. 3 and learned Standing Counsel representing the State.

(2.) The instant writ petition has been filed seeking the following relief:

(3.) The petitioner was granted cash credit limit of Rs.12,50,000.00 (rupees twelve lac fifty thousand only) in the year 2015, but as the petitioner did not deposit the interest on the aforesaid amount, the loan account of the petitioner was declared as non-performing asset and the bank has issued notice on 20/7/2019 under Sec. 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2020. However, as the petitioner did not file any objections to the notice issued by the bank, after the stipulated period of 60 days, the Bank issued possession notice under Sec. 13(4) of the SARFAESI Act. Thereafter, order under Sec. 14 of the Act was also passed by the Additional District Magistrate, respondent No. 2. After the order under Sec. 14 of the SARFAESI Act was passed, the petitioner approached this Court by filing writ petition No. 34684 of 2019, which was disposed of by this Court vide order dtd. 31/10/2019 directing the petitioner to deposit the amount in question in installments. However, as the petitioner again did not deposit the amount pursuant to the order of this Court, the respondent-bank has proceeded against the petitioner and now the property has been put to auction on 27/1/2021.