M/S HINDUSTAN DEVELOPERS Vs. STATE HARYANA

JUDGEMENT

(1.) This petition filed by petitioners-borrowers assails notice dtd. 4/2/2021 (Annexure P-1) and 27/5/2021 (Annexure P-2) issued by respondent No.2 Bank under Sec. 13 (2) and 13 (4) of the Securitisation and Reconstruction of Financial Assets annd Enforcement of Security Inteerest Act, 2002 (in short, 'SARFAESI Act') as well as order dtd. 15/12/2021 (Annexure P-4) passed by Chief Judicial Magistrate, Sonepat, under Secction 14 of SARFAESI Act.

(2.) This Court, vide interim order dtd. 8/2/2022, had protected the petitioners by restraining the respondents from taking possessionn of secured assset, subject to petitioners' paying a sum of Rs.8,50,000.00 to respondent No.2 Bank by day after the passing of said order. Thereafter, on 24/3/20222, following order was passed by this Court :-

(3.) It is informed by learned sennior counsel appearing on behallf of respondent No.2 Bank, which is not denied by learned counsel for the petitioners-borrowers, that the cut-off date fixed, i.e. 31/3/2022 and 15/4/20222, for deposit of Rs.3.00 lakhs andd Rs.5.00 lakhs, respectively, was not adhered to by the petitioners-borrowerss, as these amounts were depossited late, i.e. 22/4/2022 and 5/7/2022. This fact was brought to the notice of this Court on 14/7/2022, but this Court coontinued interim protection to the petitioners,, which continues till date.