Court No. - 27 Case :- MISC. BENCH No. - 7145 of 2010 Petitioner :- M/S Shikha Traders, Thru. Its Prop. Ram Shankar Dwivedi Respondent :- Bank Of India, Branch-Dharauli, Barabanki Petitioner Counsel :- Arun Kumar Shukla Hon'ble Devi Prasad Singh,J.
Hon’ble Dr. Satish Chandra,J.
Heard learned counsel for the parties and perused record.
Present writ petition under Article 226 of the Constitution of India, has been
preferred against the impugned notice issued under Sub-section (2) of Section
13 of the Securitisation & Reconstruction of Financial Assets & Enforcement
of Security Act, 2002 (in short the Act). The petitioner has still remedy of
filing objection under Sub-section (3) of Section 13 of the Act, which may be
decided by the respondent. It is settled law that unless decision on objection
filed in response to a notice under Sub-section (2) of Section Section 13 of the
Act, respondents have got no right to proceed with recovery proceedings.
Accordingly, liberty is given to petitioner to file objection under Sub-section
(3) of Section 13 of the Act. In case, such objection is filed, the competent
authority shall consider and decide the same within a month from the date of
receipt of a certified copy of this order and communicate decision.
Subject to above, the writ petition is finally disposed of.
Order Date :- 29.7.2010
Rajneesh)