Disposed

Smt. Hanumakonda Nirmala, v. Union of India

Telangana HC1 Aug 2014WP/21604/2014

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging a bank's SARFAESI notices. Finding the petitioner a guarantor willing to pay, the Court granted a chance to pay 50% of the due within four weeks, allowing further recovery proceedings if unpaid.

What did the court decide?

Petitioner directed to pay 50% of the due amount within four weeks; bank permitted to proceed with further recovery if not complied with.

Smt. Hanumakonda Nirmala, Vs Union of India — Banking and Recovery | Telangana HC (2014)

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THE HON'BLE SRI JUSTICE K.C.BHANU AND

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THE HON’BLE MRS JUSTICE ANIS

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WRIT PETITION NO.21604 OF 2014

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ORDER:- (per Hon’ble Sri Justice K.C.Bhanu)

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This Writ Petition, under Article 226 of the Constitution of India, is filed to declare the action of the respondents in issuing notice, dated 06.08.2013, under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘SARFAESI Act’) and Possession Notice, dated 25.07.2014, issued under Rule 8 (1) and (2) of the Security Interest (Enforcement) Rules, 2002, by respondent No.3 in respect of the petitioner property bearing H.No.1-9-461/A (G+1), in survey No.476 to an extent of 140 square yards, Julywada, Waddepally Village, Hanamkonda Mandal, Warangal District, as arbitrary and illegal and consequently, direct the respondents not to interfere with the petitioner’s peaceful possession and enjoyment of aforesaid property without due process of law.

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2. Heard both sides.

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3. Learned counsel for the petitioner contended that if reasonable time is granted to the petitioner, she is ready to pay the entire loan amount due to the bank.

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4. Petitioner is only a guarantor to the loan obtained by the borrower. In view of the fact that the petitioner has come forward to discharge the entire loan amount taken by the borrower, we grant some reasonable time to her.

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5. Therefore, the Writ Petition is disposed of. In the first instance, the petitioner shall pay 50% of the due amount within four (4) weeks from today and remaining balance amount within four (4) weeks

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thereafter. If the petitioner fails to pay the amount as directed above, the respondent Bank is at liberty to proceed further in accordance with law for recovery of the loan amount. Registry is directed not to entertain any application seeking ‘extension of time’ or ‘for being mention’ in this regard. There shall be no order as to costs. Miscellaneous petitions, if any, shall stand closed.

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_____________________ JUSTICE K.C.BHANU

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______________ JUSTICE ANIS

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AUGUST 01, 2014 YVL

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THE HON'BLE SRI JUSTICE K.C.BHANU AND

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THE HON’BLE MRS JUSTICE ANIS

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WRIT PETITION NO.21604 OF 2014