ASHOK KUMAR PRUSTY Vs. AUTHORISED OFFICER CUM CHIEF MANAGER, PUNJAB NATIONAL BANK, CIRCLE OFFICE, BHUBANESWAR

JUDGEMENT

(1.) This matter is taken up through virtual/physical mode.

(2.) The petitioner is a proprietor of M/s. Neelachala Enterprises, Balugaon, Dist-Nayagarh, which had availed a business loan from the Punjab National Bank, Nayagarh Branch, for a sum of Rs.10.00 lakhs on 12/10/2017. Due to financial indiscipline, the loan account was declared NPA on 19/7/2018. The petitioner was also informed of invoking a settlement under the special one-time settlement scheme vide memo dtd. 21/11/2020, which perhaps was not availed leading to issuance of E-auction sale notice on 5/3/2021 fixing the auction date of the mortgaged property on 22/3/2021.

(3.) By filing the present petition, challenge has been made to the aforesaid sale notice being in violation of the provisions of Sub-Rule (6) of Rule 8 of the Security Interest (Enforcement) Rules, 2002 as it does not provide a thirty days clear notice.