GOPAL Vs. STATE OF MADHYA PRADESH AND ORS.

JUDGEMENT

(1.) The petitioners have filed the present petition being aggrieved by the order dated 15.12.2017 passed by the Additional District Magistrate, Indore under Section 14 of the Secutarization and Reconstruction of Financial Assets and Enforcement of Security Interests Act, 2002 (in brief "the SARFAESI Act, 2002").

(2.) According to the petitioners, they are owner of Plot No.11, Geeta Vihar Gaon, Bilawali, Indore. In the year 2014 they took a mortgaged loan of Rs. 19,40,000-00 from the Respondent No.4 - Bank. The Respondent No.4 issued a notice under Section 13 (2) of the SARFAESI Act, 2002 calling the petitioner to deposit the amount of Rs. 22,47,336-00 failing which the mortgaged plot would be sold. Since the petitioners did not re-pay the loan, the Bank has initiated proceedings under Section 14 of the SARFAESI Act, 2002 by filing application before the Additional District Magistrate, Indore. Despite notice, by way of paper publication, the petitioners did not appear before the Additional District Magistrate, Indore to contest the case. The Additional District Magistrate, Indore vide order dated 15.12017 has directed the Sub Divisional Officer to give assistance to the Bank for taking possession. Hence, the present petition before this Court.

(3.) The Hon'ble Appex Court in the case of Kanaiyalal Lalchand Sachdev & Others v. State of Maharashtra & Others, 2011 (2) NIJ 65 (SC) (DRC) = 2011 (2) SCC 782, has held as under: