WPMS/452/2023
2023 Latest Caselaw 468 UK

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                                  WPMS No. 452 of 2023
                                  Hon'ble Manoj Kumar Tiwari, J.

Mr. Pradeep Lohani, Advocate for the petitioner.

Mr. V.D. Bisen, Brief Holder for the State of Uttarakhand / respondent no. 1.

Mr. Siddhartha Jain, Advocate for respondent no.2.

Heard learned counsel for the parties. According to petitioner, she is a bona fide purchaser for value of an immovable property. Uttarakhand Rajya Sahkari Bank Ltd. has initiated proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act in respect of the said property. It is now revealed to petitioner that the land, which she purchased, was mortgaged by Smt. Pooja Agarwal in favour of Uttarakhand Rajya Sahkari Bank Ltd. towards a loan/cash credit limit of Rs. 2 crores. The loan was declared as NPA due to default committed by the borrower.

Learned counsel for the petitioner submits that petitioner has been duped on account of conspiracy between officers of Uttarakhand Rajya Sahkari Bank Ltd. and the borrower/guarantor of the loan.

The issues raised cannot be gone into by this Court while exercising power under Article 226 of the Constitution. The dispute cannot be adjudicated without recording evidence, which cannot be appropriately done under writ jurisdiction.

In such view of the matter, writ petition is dismissed on the ground of alternate remedy with liberty to petitioner to approach the appropriate forum available to her in law.

She, can also approach the civil court, if the dispute falls beyond the scope of Section 17 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, as held in paragraph no. 97 of the judgment rendered by Hon'ble Supreme Court in the case of Nahar Industrial Enterprises Limited v. Hong Kong and Shanghai Banking Corporation, reported in (2009) 8 SCC 646.

(Manoj Kumar Tiwari, J.) 22.02.2023 Navin