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Judgment
7 paragraphs · 214 wordsManoj Kumar Tiwari, J
Petitioners are borrowers, who are facing proceedings under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "SARFEASI Act") due to default in repayment of loan.
It is contended by Ms. Prabha Naithani, learned counsel appearing for the petitioners that petitioners have filed securitisation application under Section 17 of SARFEASI Act before Debts Recovery Tribunal, Dehradun on 25.11.2021, but due to non-availability of Presiding Officer, no relief could be obtained from Debts Recovery Tribunal.
Mr. Rakesh Thapliyal, learned Assistant Solicitor General for the Union of India submits that Presiding Officer in Debts Recovery Tribunal, Dehradun would be appointed within three weeks from now.
Ms. Prabha Naithani, learned counsel for the petitioners then submits that in view of the non-availability of Presiding Officer in the Tribunal, petitioners are entitled for a limited protection.
Having regard to the facts and circumstances of the case, the writ petition is disposed of with a direction to respondents not to take any coercive action against the petitioners for a period of four weeks or till appointment of Presiding Officer in Debts Recovery Tribunal, Dehradun, whichever is earlier.
Let certified copy of this order be supplied to the petitioners within 24 hours.