ANAND GUHA ROY Vs. YES BANK LIMITED

JUDGEMENT

(1.) Heard through Video Conferencing.

(2.) This writ petition has been preferred under Article 226/227 of the Constitution of India, seeking issuance of a writ in the nature of certiorari, for quashing possession order dated 04.11.2019 (Annexure P-5) passed by the Deputy Commissioner, Gurugram regarding the property of petitioner i.e. Apartment No.A-152, Raheja Atlantis, Sector 31 & 32-A, Gurugram, Haryana.

(3.) The brief facts of the case are that petitioner availed a secured business loan of ? 1,90,00,000/- from respondent Yes Bank Limited (for short, 'Bank') vide sanction letter dated 07.01.2017 (Annexure P-1). In lieu of the aforesaid loan, the petitioner mortgaged Apartment No.A-152, Raheja Atlantis, Sector 31 & 32-A, Gurugram, Haryana. Due to financial constraints, some defaults in payment of instalments occurred on the part of the petitioner and the respondent Bank issued a possession notice dated 04.07.2019 under Section 13(4) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (for short, 'SARFAESI Act') and published the same in newspaper 'Business Standard' on 04.07.2019 (Annexure P-2).