Anita Sarkar & Another ... vs Officer In Charge & Others
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Uttarakhand High Court

Anita Sarkar & Another ... vs Officer In Charge & Others on 16 March, 2026

Author: Pankaj Purohit

Bench: Pankaj Purohit

             Office Notes, reports, orders or
SL.          proceedings or directions and
      Date                                                                     COURT'S OR JUDGES'S ORDERS
No                Registrar's order with
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                                                WPMS No.616 of 2026
                                                Anita Sarkar & another                                              ......Petitioners

                                                                          Versus

                                                Officer In Charge & others

                                                                                                                 .....Respondents
                                                Hon'ble Pankaj Purohit, J.

Mr. Saurabh Kumar Pandey, learned counsel for the petitioners.

2. Mr. Siddhartha Jain, learned counsel for the respondent no.2-India Shelter Finance Corporation Ltd.

3. Mr. Suyash Pant, learned Standing Counsel for the State/respondent nos.3 & 4.

4. The present writ petition has been filed by the petitioners challenging the impugned order dated 21.08.2025, passed by the learned District Magistrate, Nainital in Case No. 93 of 2024, under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act"), as well as the impugned possession notice dated 09.03.2026 issued by respondent no. 2.

5. The petitioners were issued a term loan of Rs. 10 lakhs for construction of a residential house. The petitioners failed to repay some of the installments, which resulted into recovery of the aforesaid amount, for which recovery proceedings under the SARFAESI Act

were initiated. A notice under Section 14 of the SARFAESI Act has also been issued for taking possession of the secured asset, i.e., the residential house itself.

6. Learned counsel for the petitioners submits that petitioner no.2 is a tractor mechanic and the petitioners are ready to pay the entire dues, i.e., Rs. 17 lakhs, outstanding against them at one go within a period of ten days from today, i.e., on or before 26.03.2026.

7. Only on humanitarian grounds and for the reason that the secured asset is the residential house of the petitioners, the petitioners are granted ten days' time to clear the entire outstanding dues, i.e., Rs. 17 lakhs of respondent no. 2 on or before 26.03.2026

8. Till 26.03.2026 only, no coercive measures shall be taken against the petitioners.

9. List on 27.03.2026.

(Pankaj Purohit, J.) 16.03.2026 AK