K.C. Mohammed Iqbal vs Union Bank of India and The Branch Manager

K. Vinod Chandran, J.—Appellant has filed the above appeal impugning the judgment of the learned Single Judge purportedly seeking instalments for settlement of the loans availed of from the respondent bank. The appellant had availed of two facilities; one housing loan and another a cash credit for business purposes. The appellant''s claim is that due to certain un-foreseen contingencies in an auction conducted by the Forest Department, wherein the appellant had bid for timber; the default in loans occurred. However, it is clear from the judgment of the learned Single Judge that the appellant had in fact, filed two appeals against the proceedings taken under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (for short "SARFAESI" Act), in which interim orders were granted on condition. The appellant having failed to comply with the conditions, the interim orders had absolutely no force and the appeals were also dismissed for non prosecution. Subsequently, though the appeals were restored, that again was a conditional order and the appellant failed to comply with the said conditions. It is also pertinent that the appellant had sold a property mortgaged with the bank as security for the above loans without the consent of the bank and the said property was subject to subsequent sale as also a mortgage with another bank. We are of the opinion that the facts does not inspire us to grant any instalments, which, definitely, is an equitable relief. The conduct of the appellant restrains us from granting any such equitable relief to the appellant. Writ appeal is dismissed. No costs.