6 March vs Icici Bank Limited
2026 Latest Caselaw 2003 UK

Uttarakhand High Court

6 March vs Icici Bank Limited on 16 March, 2026

Author: Pankaj Purohit

Bench: Pankaj Purohit

                                                       2026:UHC:1757



HIGH COURT OF UTTARAKHAND AT NAINITAL
       Writ Petition Misc. Single No. 610 of 2026
                         16 March, 2026
Nitin Agarwal & another

                                                       --Petitioners
                               Versus
Icici Bank Limited

                                                      --Respondent
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Presence:-
Mr. Eshan Sachdeva, learned counsel for the petitioners.
Ms. Monika Pant, learned counsel for the respondent.
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Hon'ble Pankaj Purohit, J.

Heard learned counsel for the parties.

2. By means of the present writ petition, petitioners have sought the following reliefs:-

"(i) Issue an appropriate writ, order or direction in the nature of certiorari to quash the impugned order dated 03.10.2025 (annexed as Annexure No.6 of the writ petition) passed by learned DM, Haridwar under Section 14 of the SARFAESI Act, 2002 in favour of the petitioner on the basis of the contentions raised above and in interest of justice as illegal, arbitrary and irrational.

(ii) Issue an appropriate writ, order or direction in the nature of mandamus while directing the respondent bank to entertain the application dated 10.12.2025 for One Time Settlement, and allow the petitioners to deposit in installments or the OTS amount to the respondent bank for settling the entire loan liability.

2026:UHC:1757

(iii) Issue an appropriate writ, order or direction in the nature of mandamus while directing the respondent bank to refrain from initiating auction purchase of the mortgaged property or to take any other coercive action against the petitioners."

3. From perusal of the record, this Court is of the view that the petitioners have got no remedy before this Court against the proceedings issued against him under the SARFAESI, Act, 2002. Petitioners may avail the remedy by filing an application before the DRT (Debts Recovery Tribunal) under Section 17 of the SARFAESI, Act, 2002.

4. Accordingly, the present writ petition is dismissed in-limine.

5. Pending application, if any, stands disposed of.

(Pankaj Purohit, J.) 16.03.2026 AK