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Judgment
Debangsu Basak, J
A purchaser of an immovable property is before Court complaining that, the secured creditor is yet to execute a conveyance in his favour.
Learned Advocate appearing on behalf of the bank submits that, there is a proceeding under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002 (SARFAESI Act, 2002) pending. Although there is no order restraining the bank from executing the conveyance, the bank for abundant caution applied before the Debt Recovery Tribunal in seisin of the application under Section 17 of the Act of 2002 for permission to execute the conveyance. Such application is yet to be disposed of.
In the facts of the present case, a sale stands confirmed in favour of the petitioner. Valuable rights in respect of the property enured to the benefit of the petitioner by virtue of such sale. Right to property is recognized under Article 300A of the Constitution of India. The petitioner cannot be deprived of his right to property without the due process of law. The petitioner is, therefore, entitled to a conveyance in respect of the property purchased. There is no impediment for the same.
The bank will, therefore, execute the conveyance in favour of the petitioner within a fortnight from date. The conveyance so executed, however, will abide by the result of the pending application under Section 17 of the Act of 2002.
W.P. 19013 (W) of 2019 is disposed of without any order as to costs.
Urgent certified website copies of this order, if applied for, be made available to the parties upon compliance of the requisite formalities.