1
M/s Jainsons Enterprises vs. Union Bank of India & Ano.
W.P. No.13072/2010
01.10.2010
Shri Shamim Ahmed Khan, learned counsel for the
petitioner.
Shri Abhishek Agrawal learned counsel for the
respondent Bank.
Heard on the question of admission and interim relief.
The petitioner has filed this petition being aggrieved by
the action taken by the respondents under the provisions of
the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002, pursuant to which a
notice for taking possession has been issued to the petitioner on
31.8.2010.
It is submitted by the learned counsel for the petitioner that
the petitioner is willing to repay the loan provided the proposal
submitted by the petitioner be considered and an amicable
settlement be arrived at.
The learned counsel for the respondent Bank has objected
to the prayer made by the learned counsel for the petitioner and
submits that the proper remedy of the petitioner is to approach the
concerned authority for mitigating his grievance.
From a perusal of the record, it is clear that the petitioner
has not filed any such proposal before the said authorities after
31.8.2010.
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M/s Jainsons Enterprises vs. Union Bank of India & Ano.
In the circumstances, without entering into the merits of the
case, the petition filed by the petitioner is disposed of with liberty to
the petitioner to approach the respondent authorities by making a
proposal for repayment of loan and in case the petitioner does so,
the authorities of the Bank shall consider the same keeping in mind
the facts of the case and thereafter take a decision thereon after
giving an opportunity of negotiating to the petitioner.
With the aforesaid observation the petition, filed by the
petitioner, stands disposed of.
C.C as per rules.
( R. S. JHA )
JUDGE
mms/-