VIKAS BHARTI Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) At the outset and in order to keep the record straight, be it noted that WP(C) No. 2342/2024, titled Vikas Bharti and anr. Vs. Punjab National Bank and ors. is filed by the successful bidder who participated in pursuance of e-auction sale notice dtd. 30/7/2024, whereas, e-auction was held in respect of secured assets stood mortgaged against the loan amount availed by the petitioner which is subject matter of challenge in WP(C) No. 839/2025 titled M/s Krishna Traders Vs. Punjab National Bank and ors., therefore, the petitioner is challenging the e- auction notice issued by the respondent-bank in respect of the secured assets, whereas, in the petition titled Vikas Bharti and anr. Vs. Punjab National Bank and ors., the petitioners are seeking direction to the respondent-Bank for handing over the physical possession of the auctioned property being successful bidders.

(2.) It is in the above backdrop, both the petitions were clubbed, therefore, fate of the petition titled Vikas Bharti and anr. Vs. Punjab National Bank and ors. is subservient to the outcome of WP(C) No. 839/2025, titled M/s Krishna Traders Vs. Punjab National Bank and ors, hence, we first propose to deal with the petition titled M/s Krishna Traders Vs. Punjab National Bank and ors.

(3.) The petitioner has invoked the writ jurisdiction of this Court seeking quashment of e-auction sale notice dtd. 30/7/2024 issued by respondents No. 1 to 3 in respect of residential house along with land measuring 01 kanal, falling under Survey No. 215 min, Khata No. 64 min and Khewat No. 07 situate at Toph Sherkhania, Tehsil and District Jammu [residential house bearing No. 37-A, Bharat Nagar, Talab Tillo, Jammu] and also further seeks quashment of sale intimation letter dtd. 28/8/2024. The petitioner also seeks direction to the respondent-Bank not to proceed in terms of Notices issued under Sec. 13 (2) and 13 (4) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [SARFAESI Act]. FACTS