IN THE HIGH COURT OF JUDICATURE AT PATNA
CWJC NO.10491 OF 2011
DEVANTI VERMA WIFE OF YOGENDRA PRASAD VERMA, C-78,
GANDHI BIHAR, POLICE COLONY ANISHABAD, POLICE
STATION GASRDANIBAGH, PATNA.
VERSUS
1. SENIOR BRANCH MANAGER VIJAYA BANK FRAZER ROAD,
PATNA
2. AUTHORIZED OFFICER, VIJAYA BANK FRAZER ROAD, PATNA.
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2 13.07.2011. The petitioner prays for quashing tender cum
public auction sale notice dated 28.5.2011, published on
7.6.2011 in a daily newspaper on behalf of the Vijaya
Bank, Frazer Road, Patna, whereby the property in
question has been put for auction sale. The petitioner’s
husband, proprietor of M/s Maa Kamakshya
Construction took loan of Rs. 5 lakh from the Vijaya
Bank making the petitioner as guaranter. Now, on
account of non-payment of loan amount, the bank has
taken possession of the property under the provisions of
Securitization and Reconstruction of Financial Assets
and Enforcement of Security Interest Act, 2002 for
recovery of dues and further interest.
The petitioner submits that her husband is
traceless for last four years and without noticing her, the
bank has taken this step for recovery of loan amount.
She further submits that she is ready to repay the loan
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amount in instalments.
Merely because the husband of petitioner is
traceless, the liability of payment of loan amount from
the principal guarantor/the petitioner cannot be waived.
As petitioner is ready to repay the loan amount, this
Court passes following order:-
a). Petitioner may resort to remedy available
under the SERFAESI Act.
b). The Court grants 3 weeks time to the
petitioner for settlement.
c). The bank would work out terms of
repayment of loan, provided the petitioner approaches it
within the stipulated period.
d). No further action consequent to proposed
auction sale dated 28.5.2011, contained in Annexure 1
would be taken for three weeks.
The writ petition is disposed of in the aforesaid
terms.
Shashi ( S.P. Singh, J.)