SAINA KAR Vs. BANK OF INDIA

JUDGEMENT

(1.) The petitioner is a defaulting borrower in a House Building loan availed on 27/8/2011 for a sum of Rs.64.00 Lakhs to be repaid in 144 equated monthly installments (EMIs) of Rs.82,132.00 each with effect from September, 2011. Due to default in payment of installments, the account was classified as NPA on 30/9/2015 leading to issuance of a demand notice dtd. 27/10/2015 under Sec. 13(2) of the SARFAESI Act, 2002 recalling the outstanding dues as on 22/10/2015 to the tune of Rs.56,96,146.00 together with interest and other expenses. The symbolic possession of the immovable property offered as a collateral security was assumed on 11/12/2015. The sale notice was issued on 23/7/2016 fixing the auction of the secured asset for 22/8/2016.

(2.) The prayer in the present writ petition is for quashing the aforesaid sale notice and a direction to the Bank to regularize the account on receipt of the overdue installments.

(3.) On perusal of the record reveals that since the filing of the writ petition on 22/8/2016, no steps have been taken for removing the pointed out defects nor getting the matter listed.