Ashish Gupta vs State Of U.P. And 2 Others
2023 Latest Caselaw 7385 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 21
 

 
Case :- WRIT - C No. - 7751 of 2023
 

 
Petitioner :- Ashish Gupta
 
Respondent :- State Of U.P. And 2 Others
 
Counsel for Petitioner :- Abhishek Kumar Shukla
 
Counsel for Respondent :- C.S.C.
 

 
Hon'ble Manoj Kumar Gupta,J.

Hon'ble Prashant Kumar,J.

The petitioner has challenged the auction notice issued by respondent No. 3 in exercise of its powers under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and for a mandamus directing the respondent-Bank to permit the petitioner to deposit the entire amount in default in installments.

Since the respondent-Bank has already taken measures as stipulated under Section 13 (4) of the Act, consequently, the remedy of the petitioner is by way of petition under Section 17 of the Act, in view of the judgment of Supreme Court in United Bank of India vs. Satyawati Tondon & Others, 2010 (8) SCC 110.

Counsel for the petitioner at this stage prays for withdrawal of the instant petition with liberty to the petitioner to avail the said remedy.

Accordingly, the petition is disposed of with aforesaid liberty reserved in favour of the petitioner.

(Prashant Kumar, J.) (Manoj Kumar Gupta, J.)

Order Date :- 14.3.2023

Ruhi