SH. SUSHIL KUMAR Vs. STATE BANK OF PATIALA

JUDGEMENT

(1.) IN the present petition, challenge of the petitioners is that the process for taking possession of the assets of the petitioner was initiated without notice under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the 'Act')

(2.) EARLIER the petitioners approached this Court by way of a CWP No. 3791 of 2009 and this Court vide order dated, 9.3.2009 disposed of the said writ petition with the direction to consider and dispose of the objections dated 23.1.2009 in accordance with law. In pursuance of the said direction, Respondent -Bank considered objections on 17.4.2009 (Annexure P -10) and communicated the same to the petitioners. However, Mr. Anand, learned counsel for respondent No. 1 could not point out that any notice contemplated under Section 13(4) of the Act has been issued to the petitioners.

(3.) SINCE , the respondent -Bank has not issued any notice under Section 13(4) of the Act, the action of the Bank in giving notice to take over the possession cannot be sustained and therefore, such notice dated 6.8.2009 (Annexure P -1) is set aside.