AI Structured Summary
Not yet generated for this judgment
Judgment
Petitioner has prayed for the following relief(s):
Having heard learned counsel for the petitioner, we are of the considered view that the present petition is totally misconceived and not maintainable at all, more so, as we are informed during the course of hearing that the petitioner has, post filing of the present petition, taken recourse to the remedies provided under the provisions of the SARFAESI Act.
It is the petitioner's grievance that the respondents wrongly declared the petitioner's account as N.P.A., thus, precluding the release of the benefits of disbursement of the loan under the Guaranteed Emergency Credit Line Scheme promoted by the Union of India.
Well, it is a matter of record that the petitioner's entitlement for benefits under the said scheme is subject to the outcome of the petitioner's compliance of the conditions of the agreement with the Respondent Bank towards the repayment of the financial obligations, due on account of release of the amount of loan, to the petitioner, on his request.
It appears that the petitioner failed to comply with such contractual and statutory obligations which prompted the Respondent Bank to declare the petitioner's account as N.P.A.
Be that as it may, since petitioner has now taken recourse to remedies in accordance with law, we do not find any reason sufficient enough to interfere in the present petition, which is accordingly dismissed.
Interlocutory application, if any, shall also stand disposed of.