KAMLESH TIWARY Vs. PUNJAB BANK, ZONAL OFFICE ARA

JUDGEMENT

(1.) Heard the learned counsel appearing on behalf of the petitioner as also the learned counsel appearing on behalf of the respondent nos. 1 to 3 and respondent no.4.

(2.) The petitioner has filed the present writ petition under Article 226 of the Constitution of India assailing the validity and correctness of the actions taken by the respondent Punjab National Bank, the secured creditor, under Section 13 (4) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, "SARFAESI Act ").

(3.) While assailing the validity and correctness of the actions taken by the respondent Bank by issuing a notice dated 05.09.2015 under Section 13(4) of the SARFAESI Act, the learned counsel for the petitioner submits that the representation filed by the petitioner in terms of Section 13(3 -A) of the SARFAESI Act has not been properly decided by taking into consideration all the objections raised on behalf of the petitioner, and therefore, according to him, the consequential action taken under Section 13(4) of the SARFAESI Act is not sustainable in law. Hence, he has filed I.A.No. 2235 of 2016 for staying the action taken by the secured creditor for auction sale of the secured assets.