PT NAWIN SHARMA Vs. UNION OF INDIA

JUDGEMENT

(1.) Heard Pt. Nawin Sharma (the petitioner) in person, Sri Ishan Shishu for respondent-1 and Sri Sanjeev Singh for respondents-2, 3 and 4.

(2.) The writ petition has been filed for issuing a writ of prohibition, prohibiting respondents-2 to 4 from proceeding under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (hereinafter referred to as the Act), till the pendency of the Writ Petition No.53112 of 2013 and Criminal Contempt Application No.13 of 2014.

(3.) It appears that the petitioner took loan from Union Bank of India, Branch A.D.A. Jaipur House, Agra. On default being committed in payment of instalments of loan by the petitioner, the Bank started proceedings under the Act. The petitioner filed Writ Petition No.53112 of 2013 challenging the constitutional validity of the Act. In this writ petition the respondents put appearance and the Court by order dated 09.10.2013 granted four weeks time for filing counter affidavit. The contesting respondents filed counter affidavit on 27.10.2013. In paragraph 5 of the counter affidavit, the contesting respondents stated that due to default being committed in payment of instalments, a notice under Section 13(2) of the Act was issued to the borrower.