ASHOK KUMAR RAUT Vs. STATE OF BIHAR

JUDGEMENT

(1.) Heard Mr. N. K. Agrawal, learned senior advocate for the appellant and Mr. Ajay Kumar Sinha, learned advocate for the respondent-Central Bank of India (for short 'the Bank') and Ms. Shilpi Keshari, learned Assistant Counsel to learned Additional Advocate General-X, for the State.

(2.) The present intra court appeal under Clause-10 of the Patna High Court Rules, 1916 has been preferred by the appellant against the order dated 30.04.2019 passed in C.W.J.C. No.25106 of 2018 by the learned Single Judge, whereby the writ petition seeking quashing of the order dated 14.12.2018 passed by the Debt Recovery Appellate Tribunal, Allahabad in Appeal No.156 of 2016 has been dismissed.

(3.) Mr. N. K. Agrawal, learned senior advocate appearing for the appellant submitted that the learned Single Judge failed to appreciate that the appellant never intended to back out from the commitment made before the learned Single Judge and due to his inability to arrange for the huge amount required for liquidating the loan within time fixed, the appellant had no option but to seek some more indulgence to deposit the closure amount with the Bank. He contended that, if an opportunity is given, the appellant would deposit Rs.25,00,000.00 (Rupees Twenty Five Lakhs) within a week. He has further contended that the learned Single Judge has failed to appreciate that the Bank has auction sold the property of the appellant without following the procedure as laid down under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act'). He has also contended that the learned Single Judge failed to appreciate that the valuation report was not proper.