VEENA VERMA Vs. DEBT RECOVERY TRIBUNAL

JUDGEMENT

(1.) Heard Sri Amrendra Nath Tripathi, learned counsel for the petitioner as well as Sri S.M.A. Qazmi learned Senior advocate assisted by Sri Madan Gopal Mishra and Sri M.A. Khan, learned advocate and Sri N.K. Seth , learned Senior advocate along with Mr Vinay Shanker, learned counsel for the Bank.

(2.) The petitioner has assailed the order dated 29.11.2010, passed by Debt Recovery Tribunal, Lucknow as also the sale certificate dated 18.1.2008 issued by the Canara Bank, Goila Branch, Indira Nagar, Lucknow.

(3.) Briefly facts as sorted out from the pleadings on record are that for establishment of a brick field a loan amounting to Rs.990,000/- was sanctioned to its proprietor Mr Vivek Verma. He was also sanctioned another loan in the form of cash credit to the tune of Rs.739520/- which was extended to Rs.1,00,000/- under the Gramodyog Rojgar Yojna. The petitioner took guarantee of the said loan and to secure the loan she mortgaged her house being House No. A-871 Indira Nagar, Lucknow. The property of the petitioner as well as of respondent no. 3, i.e, the land admeasuring 0.386 hectare consisting boundary wall and office built thereon was also mortgaged to secure the loan and the loan was not recoverable for two years as it was exempted from interest for two years.