TAUFEEQUE AHMAD ANSARI Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) The present writ petition has been filed for quashing the notice dated 08.11.2017 issued by the respondent no.3 (Annexure-6 to the writ petition) by reason of which the petitioner has been directed to repay the amount of Rs. 9,56,624.00 against the loan taken by him within a period of 60 days from the date of receipt of the said notice with a further direction to the petitioner not to deal with the mortgaged property.

(2.) Learned counsel for the petitioner submits that for realization of the said loan amount, the respondent no. 4 filed requisition before the Certificate Officer, Jamshedpur for recovery of Rs. 9,43,848.00 including the court fee, which has been registered as Certificate Case no. 352/BL/16-17. Thus, the respondent-Bank cannot proceed for recovery of the same loan amount by way of two different proceedings i.e. by filing requisition for initiating certificate proceeding and also by taking recourse of the Securitization and Reconstruction of Financial AssetsEnforcement of Security Interest Act, 2002 [in short to be referred as "the SARFAESI Act"].

(3.) Learned counsel for the respondent-Bank, at the very outset, submits that the petitioner has challenged the notice dated 08.11.2017 issued by the respondent no. 3 under Sec. 13(4) of the SARFAESI Act read with rule 8 of the Security Interest (Enforcement) Rules, 2002 (in short "the Rule, 2002"). The petitioner has got efficacious/statutory remedy provided under Sec. 17 of the SARFAESI Act to challenge the said notice by way of filing an appeal before the Debts Recovery Tribunal.