SURESH KUMAR GABA Vs. BANK OF BARODA

JUDGEMENT

(1.) Challenge in the present writ petition filed under Article 226/227 of the Constitution of India is to the various notices and proceedings initiated under the Securitization and Re-construction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short '2002 Act').

(2.) The demand notice dtd. 3/1/2019 (Annexure P-3) which has been appended with the writ petition would go on to show that the respondent-Bank put forth a demand of Rs.16,99,110.00 for the housing loan bearing account No.29700600002699. Similarly another demand of Rs.25,43,762.00 against the housing loan bearing account No. 29700600002736 had been made, thus, taking the out standings to Rs.42,42,872.00 The property which was mortgaged was a residential property bearing House No.228, Sector-7, Urban Estate, Kurukshetra measuring 388.5 square yards in the name of Neelam Gaba wife of Suresh Kumar Gaba, who are the petitioners No.1 and 2, respectively herein. The said notice was apparently followed up by a notice dtd. 25/3/2019 issued under Sec. 13 (4) of the 2002 Act, which has been placed on as Annexure A-1 alongwith the reply filed on behalf of the petitioners to the application bearing CM-19929-CWP-2022 for vacation of stay dtd. 31/8/2022. The same has also been placed on record by the respondent Bank as Annexure R-8.

(3.) In the reply to the application for vacation of stay the case of the petitioners was that the respondent-Bank was proceeding without issuance of the possession notice and resorting to proceedings under Sec. 14 of the 2002 Act and resultantly the order of the District Magistrate dtd. 30/10/2019 (Annexure P-4) has been challenged. A perusal of the order passed by the said authority would go on to show that there was reference to notice issued under Sec. 13 (2) of the 2002 Act also. It was, accordingly, pleaded in the reply to the said application that the loan accounts were classified as 'Non-Performing Asset' (NPA) on 9/11/2018 and without issuing any possession notice, the orders had been obtained from the District Magistrate.