ARIF KHAN Vs. UNITED BANK OF INDIA

JUDGEMENT

(1.) Heard Mr. R.A. Choudhury, learned counsel for the petitioners in WP(C) No. 1301/2020 and Mr. N.H. Laskar, learned counsel for the petitioners in WP(C) No. 1309/2020. Also heard Mr. A. Chamaria, learned standing counsel, United Bank of India, appearing for the respondents.

(2.) The petitioners have approached this Court as proceedings have been initiated against them under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) by the secured creditor, i.e. the Bank of India. The admitted position is that as the petitioners had taken loans from the Bank, which could not be repaid within the stipulated time, the accounts were declared as non-performing assets and the Bank had taken recourse under SARFAESI Act.

(3.) Aggrieved by the coercive measures adopted by the respondent Bank, the petitioners have approached this Court by way of filing the present writ petitions.