IN THE HIGH COURT OF JHARKHAND AT RANCHI W.P.(C) No. 7534 of 2023 M/s Hindustan Agencies, through its proprietor, Raj Kishore Kumar, Ramgarh ….. Petitioner Versus 1. State Bank of India, through its Regional Manager, Main Branch, Ranchi 2. The Assistant General Manager, State Bank of India, Stressed Asset Recovery Branch, Ranchi 3. The Branch Manager, State Bank of India, SME Central Market Branch, Ramgarh 4. The Branch Manager, State Bank of India, Kuju Branch, Ramgarh ….. Respondents ----- CORAM HON’BLE MR. JUSTICE RAJESH SHANKAR ----- For the Petitioner: Mr. Abhay Prakash For the Respondents: Mr. P. A. S. Pati ----- 07/26.03.2025 The present writ petition has been filed for issuance of show cause to the respondent-Bank as to why the petitioner’s accounts were kept at hold since January/February, 2023 without any intimation/notice and an amount of Rs.14,64,456/- with respect to SBI Life Insurance, which was not mortgaged by it for taking loan, was forfeited despite the fact that it had already filed a pre- litigation case being Case No. 97/2023 and the respondent- Bank had appeared in the said case before the Permanent Lok Adalat, Civil Court, Ramgarh. Further prayer has been made for issuance of direction upon the respondent-Bank to refund an amount of Rs.11,16,966/- deducted from the fixed deposit of the petitioner without any intimation/notice to it and accordingly to resume its fixed deposit account. 2. Having heard learned counsel for the parties and considering that a notice under Section 13(4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [hereinafter referred to as ‘the SARFAESI Act, 2002’] read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 has already been issued on 05.07.2024 to the petitioner, against which it has got efficacious remedy of preferring an application under Section 17(1) of the SARFAESI Act, 2002 before the Debts Recovery Tribunal, Ranchi and as informed by learned counsel for the respondent-Bank that the property in question has already been auctioned sold yesterday i.e. on 25.03.2025, I am not inclined to entertain the present writ petition at this stage. 3. The petitioner is however at liberty to take recourse against the aforesaid action of the respondent-Bank by preferring an application under Section 17(1) of the SARFAESI Act, 2002 before the Debts Recovery Tribunal, Ranchi. If the petitioner prefers the said application before the Debts Recovery Tribunal, Ranchi within three weeks from today along with an application seeking condonation of delay in filing of the same, the said Tribunal shall consider the condonation application liberally and shall proceed to hear the main application on its merit. 4. The present writ petition is accordingly dismissed with the aforesaid liberty and direction. 5. Consequently, I.A. No. 13001/2024 also stands dismissed. Satish/- (RAJESH SHANKAR, J)