BASUDEO PRASAD Vs. ALLAHABAD BANK, RANCHI AND OTHERS

JUDGEMENT

(1.) Heard the learned counsel for the parties.

(2.) The petitioner is aggrieved against the order passed on 25th May, 2010 by which, the writ petition of the husband of the borrower has been dismissed by the learned Single Judge and at the same time, direction has been issued to the respondents to hand over the physical possession of assets to the auction purchaser. The petitioner's contention is that the proceeding initiated under Sec. 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, was initiated against a dead person and therefore, the order of sale notice and consequential auction sale was nullity. The learned Single Judge dismissed the writ petition on the ground of availability of effective alternative remedy under Sec. 17 of the Act of 2002.

(3.) Learned counsel for the petitioner-appellant submitted that since the order is nullity, he has approached this Court by filing the writ petition, however, so far as orders of auction and auction sale are concerned, they are certainly covered under the Provisions of sub-section 4 of Sec. 13 of the Act of 2002, which clearly provides that in case the borrower fails to discharge his liability in full within the period specified in sub-section 2, the second creditor may take recourse to one or more of the measures referred under sub-section 4 of Sec. 13 of Act, 2002, which includes not only of taking possession of the secured assets of the borrower but also it includes right to transfer the assets by way of not only lease, assignment or sale for realising the secured assets, which could be done by issuing an appropriate sale certificate, therefore, the order impugned was certainly an appealable order and therefore, we do not find any illegality in the order impugned passed by the learned Single Judge, who dismissed the writ petition of the appellant-petitioner on the ground of availability of effective alternative remedy. No other point has been submitted by the learned counsel for the appellant- petitioner in this regard.