KUSUM JAGDISHCHANDRA SINGH Vs. LIC HOUSING FINANCE LIMITED

JUDGEMENT

(1.) Heard finally with the consent of parties. The present petition under Article 226/227 of the Constitution of India has been filed assailing the order dtd. 16/5/2023 passed by learned Presiding Officer, Debt Recovery Tribunal, Jabalpur in S.A. No. 36/2024 (I.A. No. 196/2024) by which application for condonation of delay and consequently the securitization application itself has been dismissed on the ground of limitation.

(2.) The petitioner has prayed for the following reliefs:-

(3.) Since the loan account became NPA, the secured creditor initiated action on 29/12/2023 by issuing auction notice in the newspaper which was brought to the notice of the petitioner on 30/12/2023. Upon having knowledge regarding auction of the properties owned by the petitioner, she enquired and it came to surface that the Respondent No. 1 has initiated action under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'SARFAESI Act, 2002'). Earlier, a recall notice dtd. 26/5/2018 as well as demand notice dtd. 19/12/2020 issued by the Respondent No. 1 under Sec. 13(2) of SARFAESI Act, 2002 was never received by the petitioner as the notices were not sent on her residential address even the demand notice dtd. 17/7/2021 was not received, thereafter, an application under Sec. 14 of SARFAESI Act was issued on 8/3/2022 for taking physical possession of the alleged mortgaged property. On receipt of the statement of account, it revealed that penal interest has been levied and capitalized in the loan account.