KABERI CHAKRABORTY Vs. UCO BANK, JALPAIGURI BRANCH

JUDGEMENT

(1.) This appeal is at the instance of the borrowers and is directed against the orders dtd. 13/11/2024 and 14/11/2024 passed by a learned Single Judge sitting in the Jalpaiguri Circuit Bench of the High Court at Calcutta in WPA 2366 of 2024.

(2.) The appellant no. 1 is the wife of the appellant no. 2. The appellants are the partners of a partnership firm under the name of M/s Kushal Tea Factory having its place of business at Torulpara, Pandapara Kalibari, P.O.- Pandapara Kalibari, P.S.- Kotwali, District - Jalpaiguri (hereinafter referred to as the 'said partnership firm'). The partnership firm availed a the term loan of Rs.1,49,40,000.00 from UCO Bank, Thana Road, Jalpaiguri Branch, District - Jalpaiguri. The said partnership firm in order to secure the loan provided a one storied dwelling house in the name of appellant no.2 situated at Pandapara Kalibari being R.S. plot no.1792/3194, R.S. plot no.1792/3195, 1792 under Khatian No. R.S.6945/1/9, 6945/1/0, 6945/1/11, 6945/1/12, 6945/1/13, 6945/1/14, 6945/1/17-27 for J. L. No. 07 under Mouza - Kharia, District Jalpaiguri measuring about 12.00 cottahs (hereinafter referred to as the 'said property') as a security asset by depositing the Title Deeds bearing nos.I-3533, I-5936, I-5937, I-1077 (hereinafter referred to as the 'said Deed').

(3.) The partnership firm defaulted in repaying the said term loan and as a consequence whereof the account was declared as a non-performing asset (for short 'NPA'). Since the appellants failed to repay the debt in spite of sufficient opportunity being given to the appellants, the bank invoked the provisions of Sec. 13 of the Securitisation& Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act'). Notice under Sec. 13(2) was followed by the steps being taken under Sec. 13(4) of the SARFAESI Act by the bank. The appellants did not offer to liquidate the loan amount at that stage. Bank/Secured Creditor,thereafter published a sale notice under the provisions of the Security Interest (Enforcement) Rules, 2002 (for short 'the 2002 Rules'). The property was put up for sale through e-auction. The auction took place on 30/10/2024. The successful bidder, according to the bank, has put the initial payment and further time was provided as per the statutory requirement to pay the balance sale price.