OMVEERI Vs. PUNJAB NATIONAL BANK AND 2 OTHERS

JUDGEMENT

(1.) Heard learned counsel for the petitioner and Sri S.K. Singh, learned counsel for the respondents.

(2.) Petitioner claims that he purchased the property from the erstwhile owner by means of a registered sale deed after verifying that there is no charge on the same, inasmuch as neither there was any mention of the charge in this sale deed nor the charge was registered in the office of the sub-registrar. However, subsequently when the bank issued a notice that the property mortgaged with the bank in view of the loan he came to know about it.

(3.) A preliminary objection has been raised by learned counsel for the respondent-bank with respect to maintainability of the writ petition on the ground of existence of statutory alternative remedy available to the petitioner under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( in short 'SARFAESI Act').