GODAWARI SHRIDHAR Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) PETITIONER has filed this petition challenging the notification of auction of a house, Annexure-P-1, which was mortgaged with the respondent No. 1, Bank.

(2.) PETITIONER is a partner of a firm, named as 'm/s. Shridhar Radios'. The firm had been conducting business. In the year 1984 it had been provided facility of crash credit limit by the respondent-Bank and it was extended time to time upto Rs. 35 lakhs.

(3.) AS per the petitioner in the month of august 2005 there was a theft in the shop of the firm amounting to Rs. 6,05,540/ -. The theft amount could not be recovered and due to the aforesaid circumstances the firm could not continue its business and on account of this it could not pay cash credit limit which it had encashed from the Bank. Consequently, Bank issued a notice demanding an amount of Rs. 33,85,031 /- failing to pay the amount Naib Tehsildar also issued a revenue recovery certificate of Rs. 30,56,371/- on 12-1-2006. The petitioner firm filed a petition before this Court challenging the notice. The petition was registered as W. P. No. 1256/2007. Initially, the court granted stay in favour of the petitioner. Thereafter, vide order dated 13-8-2007 the court disposed of the petition on the ground that there was a remedy available to the petitioner of filing appeal under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security interest Act, 2002. Thereafter, the petitioner filed an appeal before the Tribunal. The Member of the Tribunal is not working at present, in the meanwhile, the respondent Bank issued a notification with regard to auction of the house of the petitioner, hence the petitioner has filed this petition.