Suman Sharma vs Uco Bank, Branch Prakash Chowk ...
2023 Latest Caselaw 8291 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD
 
 

?Court No. - 21
 

 
Case :- WRIT - C No. - 8756 of 2023
 

 
Petitioner :- Suman Sharma
 
Respondent :- Uco Bank, Branch Prakash Chowk Muzaffar Nagar And 3 Others
 
Counsel for Petitioner :- Brahma Kumar Tiwari
 
Counsel for Respondent :- C.S.C.,Yashwant Singh
 

 
Hon'ble Manoj Kumar Gupta,J.

Hon'ble Prashant Kumar,J.

The instant petition has been filed praying for quashing of the demand notice dated 22.10.2019, possession notice dated 24.2.2020 and order dated 18.4.2022, passed by respondent no. 2 under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short 'the Act').

The petitioner stood as a guarantor for the loan taken by respondent no. 3 from respondent no. 1. The petitioner had given his property in mortgage to the respondent Bank as a security for the loan taken by respondent no. 3. The Bank in exercise of its power under the Act has initiated proceedings for taking possession of the secured asset. An order dated 18.4.2022 was passed on the said application directing delivery of possession of the secured asset. The petitioner alleges that a restoration application at the behest of respondent no. 3 for recalling of order dated 18.4.2022 is still pending. The auction notice fixes todays' date for auction sale.

Counsel for the respondent Bank vehemently contended that the Bank having taken measures under Section 13(4) of the Act, the remedy of the petitioner is by way of application under Section 17 of the Act. In support of his contention, he has relied on the judgment of the Supreme Court in United Bank of India vs. Satyawati Tondon & Others, 2010 (8) SCC 110.

Having regard to the facts of the case and the submissions made, we decline to entertain the challenge and leave it open to the petitioner to avail the alternative statutory remedy provided under Section 17 of the Act.

The petition stands disposed of accordingly.

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

Order Date :- 21.3.2023

Jaideep/-