Uttarakhand High Court
WPMS/2204/2021 on 12 November, 2021
IN THE HIGH COURT OF UTTARAKHAND
AT NAINITAL
ON THE 12TH DAY OF NOVEMBER, 2021
BEFORE:
HON'BLE SHRI JUSTICE MANOJ KUMAR TIWARI
WRIT PETITION (M/S) No. 2204 of 2021
BETWEEN:
M/s Om Seeds Pvt. Ltd. and others. ...Petitioners
(By Mr. S.K. Mandal, Advocate)
AND:
District Magistrate/Collector,
District Udham Singh Nagar others. ...Respondents
(By Mr. Devesh Ghildiyal, Brief Holder for the
State/respondent no. 1 and Ms. Prabha Naithani,
Advocate for respondent nos. 2 & 3)
JUDGMENT
Petitioners took a loan from Union Bank of
India, Branch Rudrapur, District Udham Singh Nagar.
Petitioners are aggrieved by e-auction notice dated
18.09.2021 issued by Authorized Officer of the bank,
whereby the immovable secured asset mortgaged
with the bank, has been offered for sale through
e-auction to be held on 22.10.2021.
2. Ms. Prabha Naithani, learned counsel
appearing for the Bank has apprised the Court that on
the date fixed for e-auction, not a single offer was
received, and now a fresh e-auction notice would be
published for e-auction of the secured assets.
3. Learned counsel for the petitioners submits
that petitioners had approached Debts Recovery
Tribunal against the demand notice and possession
notice issued by the Bank in exercise of powers under
Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002. He,
however, points out that since the term of Presiding
Officer of Debts Recovery Tribunal, Dehradun has
expired and new incumbent has not been appointed,
therefore, no order could be passed on petitioners'
securitization application.
4. Learned counsel for the petitioners submits
that petitioners are ready & willing to enter into one
time settlement of the loan with the Bank. He,
therefore, submits that petitioners may be permitted
to submit a proposal for one time settlement of the
loan and the Competent Authority in the Bank be
directed to consider petitioners' proposal.
5. Learned counsel appearing for the
respondent-Bank assures the Court that if petitioners
submit proposal for one time settlement, the
Competent Authority in the Bank shall consider the
same and take appropriate decision at the earliest.
6. Accordingly, the writ petition is disposed of
with liberty to petitioners to submit a proposal for one
time settlement before the Competent Authority in
the Bank. If petitioners submit such proposal within
ten days from today, the Competent Authority in the
Bank shall consider petitioners' proposal and take
appropriate decision, in accordance with law, within
four weeks thereafter.
7. Let a certified copy of this order be issued
today itself.
(MANOJ KUMAR TIWARI, J.)
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