ANUNAY KUMAR PRASAD Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) The present writ petition has been filed for issuance of direction upon the respondent-Bank to show cause as to how a property registered in the name of the petitioner and his mother, who are in possession for more than 12 years, can be put to auction-sale for recovery of bank dues on the basis of sale deed mortgaged by one Birendra Kumar Singh showing himself to be the purported owner of the property.

(2.) Learned counsel for the petitioner submits that the petitioner is the purchaser of property in question i.e. Duplex No. Akansha-2, Goutam Green City, Plot No. 367, sub-plot No.-367/2, Khata no. 70, Thana no. 166, Village- Getlatu, District- Ranchi, measuring an area of 1000.50 sq. ft. The said property was sold to him and his mother by one Renu Singh-Chairperson of M/s. Gautam Construction and Developers Pvt. Ltd. for a valuable consideration of Rs.17,01,111.00 in the year 2007 and since then the petitioner is in possession of the same. However to his utter surprise, on 1/7/2012, he found a notice issued by the respondent-Bank under Sec. 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short to be referred as "the SARFAESI Act", 2002) pasted on his premises. On inquiry, the petitioner came to know that the sale deed of the same property was mortgaged by one Birendra Kumar Singh before the respondent-Bank for obtaining housing loan. The petitioner is neither the borrower nor a guarantor of any loan taken from the respondent- Bank and as such he has approached this Court by filing the present writ petition.

(3.) Mr. Ashok Kumar Yadav, learned counsel for the respondent-Bank, submits that the present writ petition is not maintainable as the petitioner has efficacious and statutory remedy under Ss. 17 and 18 of the SARFAESI Act", 2002 as well as under Sec. 30 of the Recovery of Debts and Bankruptcy Act, 1993 (in short "the Act, 1993") as the property in question has been put to auction by the order of the Recovery Officer, Debts Recovery Tribunal, Ranchi.