RAVINDER PRATAP SINGH Vs. KOTAK MAHINDRA BANK

JUDGEMENT

(1.) The instant writ petition has been filed by the petitioners challenging the order dated 24th July, 2019 passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act").

(2.) Learned counsel for the petitioners submitted that even the caveat, which was filed before taking action under Section 14 of the SARFAESI Act, has not been considered and no right of hearing was afforded before passing the impugned order. Learned counsel further submitted that the petitioners are guarantors against the loan taken by one Shri Tej Prakash Singh.

(3.) Learned counsel submitted that amount was paid from time to time and without any reason, the respondent Bank had declared the account as Non Performance Account (NPA) and in spite of huge payment, being made, the respondent Bank is determined to take action against mortgaged property by taking possession.