CHINTAMANI SAHU Vs. UCO BANK, BALASORE

JUDGEMENT

(1.) The petitioner is a defaulter borrower in a Cash Credit facility, which was classified as NPA on 30/4/2019 leading to issuance of a demand notice dtd. 5/12/2019 under Sec. 13 (2) of the SARFAESI Act, 2002 recalling the outstanding liability of Rs.9,12,936.00 due as on that date with further interest etc.

(2.) The challenge in the present writ petition is to the sale notice dtd. 24/1/2023 fixing the auction of the collateral security on 10/2/2023.

(3.) It is contended that the petitioner is prepared to deposit 50% of the outstanding liability and the remaining balance to be cleared within next three months in order to save his sole residential house, which is a subject matter of auction sale on 10/2/2023.