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Judgment
Manoj Kumar Tiwari, J
Heard learned counsel for the parties through video conferencing.
Petitioner took a loan from Indian Overseas Bank. Since he defaulted in repayment of the loan amount, therefore, proceedings were initiated
against him under Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002.
By means of this writ petition, petitioner has sought the following reliefs:-
“i) Issued a writ order or direction in the nature of certiorarified mandamus, directing the respondent nos. 1 & 2 to produce entire record before
this Hon’ble Court, pertaining to the E-Auction dated 24-06 -2021 of immovable property of petitioner i.e. Khata No. 138, Khasra No. 312
admeasuring 3064 Sqr. Mtrs. Situated in Gram Raipur, Pargana Bhagwanpur, Tehsil Roorkee, District Haridwar and thereafter to quash/set-aside the
auction made in favour of the respondent no. 3.
ii) Issue a writ, order or direction in the nature of mandamus commanding/directing the respondent nos. 1 & 2 to not confirm the sale of property in
question in favour of respondent no. 3 herein.
iii) Issue a writ, order or direction in the nature of mandamus commanding/directing the respondent nos. 1 & 2 to pass speaking and reasoned order on
the representation dated 30-06-2021 moved by the petitioner for one time settlement (contained as Annexure No. 12 to this writ petition respectively),
strictly within the stipulated period fixed by this Hon’ble Court.â€
Since petitioner has the statutory remedy under Section 17 of Securitisation and Reconstruction of Financial Assets and Enforcement of Securities
Interest Act, 2002, therefore, in view of the law laid down by Hon’ble Supreme Court in the case of Union Bank of India Vs. Satyawati Tondon,
reported in 2010 (8) SCC 110, this Court declines to entertain this writ petition.
Accordingly, the writ petition is dismissed on the ground of alternative remedy. No order as to costs.