A writ petition filed by a borrower against a bank was dismissed as withdrawn upon the petitioner's request, subject to a liberty to make a representation under the SARFAESI Act, 2002.
Liberty to make representation under Section 13(3A) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
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IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH
CWP No. 22 of 2012
Date of Decision: 3.1.2012
Sanjeev Kumar
....Petitioner.
Versus
State Bank of India
...Respondent.
CORAM:HON'BLE MR. JUSTICE M.M. KUMAR. HON'BLE MR. JUSTICE AJAY KUMAR MITTAL.
PRESENT: Mr. Deepak Aggarwal, Advocate for the petitioner.
1. To be referred to the Reporters or not? 2. Whether the judgment should be reported in the Digest?
M.M. KUMAR, J.
Learned counsel for the petitioner after making some submissions applies for withdrawal of the writ petition with liberty to make representation under Section 13 (3A) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. According to the aforesaid Section, a borrower is entitled to make a representation or raise objection and the secured creditor has to consider such representation or objection. If the secured creditor like the respondent-Bank comes to the conclusion that such representation or objection is not acceptable, then there is a duty imposed to communicate within one week on receipt of such representation or
CWP No. 22 of 2012 -2-
objection by recording reasons for non-acceptance of representation or objection to the borrower. Admittedly, no such representation/objection has been filed and now the petitioner has applied for such liberty.
In view of the above, the writ petition is dismissed as withdrawn with liberty in terms of the prayer made by the learned counsel.
(M.M. KUMAR) JUDGE
January 3, 2012 gbs
(AJAY KUMAR MITTAL) JUDGE
1 provisions across 1 enactments
Sanjeev Kumar
State Bank of India
M.M. Kumar
Ajay Kumar Mittal
As recorded by the court registry
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