BRIJ KISHORE PRASAD Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) HEARD counsel for the petitioner and the counsel appearing for the State Bank of India.

(2.) THIS application has been filed by the petitioner challenging the notice dated 17.5.2006 issued by the State Bank of India under Sec. 13(2) of Securitisation and Reconstruction of Financial Asset and Enforcement of Security Interest Act, 2002. This notice has been served on the petitioner on 7.6.2007 directing him to discharge his full liability by depositing the entire dues amount of the bank, within 60 days. Petitioner 'scase is that notice is completely silent as to when his Account was declared non -performing. The respondent -Bank without considering the petitioner 'srepresentation has further issued notice under Sec. 13(4) of the SARFAISI Act. Parallel proceeding has been initiated by the respondent -Bank under the SARFAISI Act, though for realisation of the same amount O.A. No. 124/99 is pending for disposal at its final stage, before Debt Recovery Tribunal, Patna. Mr. S.D. Sanjay, counsel appearing for the State Bank of India, has submitted that the Bank has to initiate simultaneously proceeding under the SARFAISI Act as the petitioner is intentionally delaying the disposal of O.A. No. 124/99. As provided under the decision reported in (2004)IV SCC 311, there is no power for initiating parallel proceeding under the SARFAISI Act. The writ application is not maintainable as the Bank has already issued notice under Sec. 13(4) of the Act. In this circumstance petitioner 'sremedy lies before the Debt Recovery Tribunal, Patna under Sec. 17 of SARFAISI Act.

(3.) SEC . 17 of SARFAISI Act provides right to appeal to any one who is aggrieved by the notice issued by the respondent -Bank under Sec. 13(4) of the SARFAISI Act. Sec. 17 provides forum to aggrieved person by way of an appeal preferred before the Debt Recovery Tribunal, Patna within 45 days from the date of issuance of notice under Section 13(4) of the Act.