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Judgment
13 paragraphs · 183 wordsManoj Kumar Tiwari, J
Petitioners are borrowers, who are facing proceedings for recovery under Securitization and Reconstruction of Financial Assets and Enforcement
of Security Interest Act, 2002.
In this writ petition, petitioners have challenged the e-auction notice in respect of the secured asset pledged with the bank, which is scheduled to be
held on 05.01.2022.
Learned counsel appearing for the petitioners submits that petitioners want to repay the loan, but the only thing they want is some reasonable time,
for repayment of loan.
Mr. Anil Kumar Joshi, learned counsel appearing for respondents-bank submits that if petitioners make representation to the Competent Authority
in the bank, the same shall be considered, as per law.
Accordingly, the writ petition is disposed of with liberty to petitioners to make representation to the Competent Authority in the bank within 48 hours
from today. If such representation is made, the Competent Authority in the bank shall consider petitioners’ request and take appropriate decision,
in accordance with law, on or before 04.01.2022.
Let a certified copy of this order be issued today itself.