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Judgment
Leave to amend the petition by addition of grounds and prayer so as to incorporate a challenge to the order dated 29.3.2017, granted. Necessary amendment to be carried out forthwith.
Rule, made returnable forthwith. Shri Timble, learned Counsel waives service. Heard finally by consent of the parties.
By this petition under Articles 226 and 227 of the Constitution of India the petitioner is challenging the order dated 29.3.2017 passed by the learned District Magistrate,North Goa and the action taken against the petitioner under the provision of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002("the Act" for short)and for a direction to restore the possession of the subject flat to the petitioner.
Today the respondent nos.1 and 2 have filed an affidavit in reply. In paragraph 13 of the reply it is stated thus:- " I say that now the Borrowers on 26.7.2017 have deposited a sum of Rs.11,00,000/- (Rupees eleven lakh only) in the said loan account and have orally undertaken to repay the balance outstanding with further further interest, cost, charges, expenses within three months. In view of the same, we are agreeable for temporary handing over of the possession of the said flat to them with right to take over possession again in case of further default in repayments as undertaken by the Borrowers."
The petitioner as well as her husband Mr.Firoz Khan have filed separate undertakings which are taken on record and marked "X" and "Y" for identification. By the said undertakings the petitioner and her husband have undertaken to repay the remaining amount of loan of Rs.13,29,796.63 paise algonwith interest and costs within a period of three months from today and further undertaken that in the event they fail to do so they will hand over possession of the subject flat to the respondent nos.1 and 2. Statements and the undertakings are accepted.
We have heard the learned Counsel for the petitioner and the learned Counsel appearing for the respondent nos.1 and 2. Parties state that petition be disposed of in terms of para 13 of the reply and the undertaking given. Hence by consent of the parties, the petition is disposed of on following terms:- ORDER
(i) Petition is allowed.
(ii) The impugned order dated 29.3.2017 is hereby set aside. The respondent no.2 shall handover possession of the subject flat to the petitioner.
(iii) The petitioner shall pay remaining amount of loan alongwith interest and costs within a period of three months from today as undertaken.
(iv) In the event of failure to do so, the petitioner shall handover possession of the said flat to the respondent nos.1 and 2.
(v) In the event of their failure to abide by the undertakings the respondent nos.1 and 2 shall have right to take over possession of the said flat and take every necessary action as may be permissible in law.
(vi) Rule is made absolute in the aforesaid terms.