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2025 DAILYLAW 4569 (UTT)

AMIT KUMAR SAINI v. PUNJAB NATIONAL BANK

WPMS/936/2025 · 2025-06-23

Ravindra Maithani

body2025

Judgment text

Extracted from the PDF above. The PDF is authoritative.

Date Office Notes, reports, orders or proceedings or directions and Registrar’s order with Signatures COURT’S OR JUDGE’S ORDERS S/1 WPMS No.936 of 2025 With Amendment Application (IA) No.2 of 2025 Hon’ble Ravindra Maithani, J. Mr. Bharat Singh, Advocate for the petitioner. Mr. Ashish Joshi, Advocate for the respondents appeared through video conferencing. Heard. Amendment application has been filed by the petitioner, but it has not been pressed. The amendment application is dismissed, as not pressed. The challenge in this petition is made to the recovery proceedings initiated by the respondent Bank for recovery of outstanding dues under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“the SARFAESI Act”). Heard learned counsel for the parties and perused the record. Learned counsel for the petitioner would submit that the petitioner had taken a loan of Rs. 16 Lakhs from the respondent Bank. Now, outstanding dues is Rs.14,04,401/-; the account was declared Non Performing Assets (NPA); the petitioner is ready and willing to deposit the entire amount, but he may be given some time. Auction Notice under the SARFAESI Act is challenged. The SARFAESI Act is a self contained Act. If the petitioner is aggrieved by any action, he is free to take recourse under Section 17 of the SARFAESI Act. Therefore, there is no reason to entertain the writ petition. It is also stated on behalf of the petitioner that he is ready and willing to deposit the amount. If the petitioner is really so willing and ready to pay the amount, he may make a proposal to the respondent bank by depositing a substantial portion of the outstanding dues. Once it is done, this Court has no doubt that respondent Bank shall consider the proposal given by the petitioner, in accordance with the law, Rules and Regulations. With these observations, the petition stands disposed of accordingly. (Ravindra Maithani, J.) 23.06.2025 Sanjay SANJAY KANOJIA Digitally signed by SANJAY KANOJIA DN: c=IN, o=HIGH COURT OF UTTARAKHAND, ou=HIGH COURT OF UTTARAKHAND, 2.5.4.20=e50e50b49596520698eff87e0a08bbd504 686df4d1afc60f54a287831dec46fe, postalCode=263001, st=UTTARAKHAND, serialNumber=26EEB7122ED0DD23233A255DD8E C450A84B515A087CAEFD1B3179A7DEAE40699, cn=SANJAY KANOJIA Date: 2025.06.23 17:02:20 +05'30'