Mahesh Pokhriyal vs Tata Capital Financial Service Ltd

Manoj Kumar Tiwari, J

Petitioner took a loan from Tata Capital Financial Services Ltd. Petitioner could not repay the loan, therefore, recovery proceedings have been initiated against him under provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

By means of this writ petition, petitioner has sought the following reliefs:-

“I. Issue a writ order or direction in the nature of Certiorari quashing the impugned possession notice dated 20.01.2022 (annexure-4) issued by respondent bank.

II. Issue a writ order or direction in the nature of Mandamus directing the respondent bank to permit the petitioner to repay the remaining loan amount in installments within such period as deem fit and proper by this Hon’ble Court.”

Learned counsel for the petitioner submits that Debts Recovery Tribunal, Dehradun is lying vacant as no Presiding Officer has been appointed upon expiry of term of the previous incumbent. Therefore, remedy available under Section 17 of the aforesaid Act has become illusory for the petitioner. He further submits that petitioner is ready and willing to repay the outstanding loan amount and all he wants is some reasonable time for repayment of the outstanding amount.

Having regard to the relief sought by petitioner, the writ petition is disposed of with liberty to petitioner to make representation to competent authority in Tata Capital Financial Services Ltd. If petitioner makes such representation within ten days from today, the same shall be considered and appropriate order shall be passed thereupon within three weeks thereafter.

For a period of four weeks or till disposal of petitioner’s representation, whichever is earlier, no coercive action shall be taken against the petitioner.