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Judgment
Madan Gopal Vyas, J
The petitioners have approached this Court with a grievance that for a recovery of sum of Rs. 6,81,966.55/-, the possession of petitioner’s property bearing residential house situated at Majisa Ka Baas, near Nawalsagart Well, Government Press Road, Bikaner (for short property in question) will be taken.
This court is not oblivious of the fact that an appeal is maintainable against the proceedings taken by the respondent- Bank under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the SARFAEST Act’), however, considering that petitioners have approached this Court with a view to square off the loan amount and settle the bank’s dues, this Court is inclined to intervene in the matter.
Mr. C. S. Kotwani, learned counsel appearing for the petitioners submit that after taking loan, the petitioners have already deposited a sum of Rs. 2,90,000/- (receipt annex. 3). It is also submitted that petitioners are willing to pay a sum of Rs. 4,50,000 through demand draft (copy of demand draft is annex. 10), but the respondent’s bank authorities is not accepting the aforesaid amount and is adamant to take possession of the property in question.
In view of the above, let notices be issue to the respondents, returnable within six weeks.
Meanwhile, the respondent’s bank is directed to take the demand draft of Rs. 4,50,000 and shall not take possession of the petitioner’s property being Majisa Ka Bass, near Nawalsagar Well, Government Press Road, Bikaner.
Needless to observe that in the event of petitioner’s failure to adhere to the above mentioned commitments, the respondents shall be free to proceed in accordance with law.