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Judgment
Pankaj Purohit, J
Heard learned counsel for the parties.
By means of the present writ petition, petitioner has sought the following reliefs:-
“(a) Issue a writ, or order in the nature of certiorari quashing the impugned order dated 17.10.2024 (contained as Annexure-17) issued by respondent no.4 by which the physical possession on the land and building of the petitioner is going to be taken by 21.10.2024.
(b) Issue a writ or order or direction in the nature of mandamus directing respondent no.3 and 4 to permit for the commercial complex adjacent to Agrasen Marg, in front of Sadar Bazar to be substituted as mortgaged property against the loan account and term loan account in place of land and building mortgaged petitioner and the guarantor situated at Haldwani, District Nainital.
(c) Issue a writ, order or direction in the nature of mandamus directing respondent nos.4, 5 & 6 not to take any coercive action and to interfere with the peaceful possession of mortgaged property at Haldwani, District Nainital.”
The petitioner was issued two loans one CCL (Cash Credit Loan) and a Term Loan amounting to Rs.1.50 crore each. The petitioner failed to repay the installment of the loan which made the account of the petitioner NPA (non-performing asset). The respondent-Bank proceeded with the petitioner for recovery of the aforesaid amount by resorting to various proceedings, but the result is that till date, not a single penny was returned by the petitioner to the respondent-Bank. Petitioner has challenged the order dated 17.10.2024, annexure-17 to the writ petition, which was issued by the respondent no.4-authorized officer of the Bank to hand over the possession of the secured assets to the bank in pursuant to the notice issued under Sections 13 & 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short “the Act, 2002”).
From perusal of the record, this Court is of the view that the petitioner has got no remedy before this Court against the proceedings issued against him under the Act, 2002. Petitioner may avail the remedy by filing an application before the DRT (Debts Recovery Tribunal) under Section 17 of the Act, 2002.
Accordingly, the writ petition is dismissed in-limine.
Pending application, if any, stands disposed of.