Hariom Goyal vs L.I.C. Housing Finance Ltd. And Another
2025 Latest Caselaw 2235 UK

Uttarakhand High Court

Hariom Goyal vs L.I.C. Housing Finance Ltd. And Another on 4 March, 2025

Author: Ravindra Maithani

Bench: Ravindra Maithani

     HIGH COURT OF UTTARAKHAND AT NAINITAL
                   Writ Petition No. 78 of 2025 (M/S)

Hariom Goyal                                                 ........Petitioner

                                        Vs.

L.I.C. Housing Finance Ltd. and another ........ Respondents
Present :    Ms. Rajini Rangwal, Advocate holding brief of Mr. Pawan Mishra, Advocate
             for the petitioner.

                                  JUDGMENT

Hon'ble Ravindra Maithani, J. (Oral)

The challenge in this petition is made to the Notice

dated 16.12.2024, issued by respondent no.1. By the impugned

Notice, the possession of secured assets were taken into

possessions by the respondents under Section 13(4) of the

Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 ("the SARFAESI

Act").

2. Heard learned counsel for the parties and perused the

record.

3. It is the case of the petitioner that he has taken loan of

`31 Lacs from the respondents. He paid installments, but due to

huge loss in business, he could not continue payment of

installments. Thereafter, proceedings under the SARFAESI Act

were initiated against the petitioner, in which, the notice has

been impugned.

4. Learned counsel for the petitioner would submit that

he is ready and willing to pay the amount of installments.

Therefore, the interference is warranted.

5. The SARFAESI Act in itself is a self contained Act.

It is admitted that the petitioner has taken a loan and he has

been defaulted in payment of it. Now, notice taking possession

of secured assets has been challenged. If petitioner has any

grievance by any action that has been taken by the

respondents under the provisions of the SARFAESI Act, the

petitioner is free to avail such remedy as available under

Section 17 of the SARFAESI Act. For this purpose, this writ

petition may not be entertained. Accordingly, the petition

deserves to be dismissed at the stage of admission itself.

6. The petition is dismissed in limine.

(Ravindra Maithani, J.) 04.03.2025 Sanjay