IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.8995 of 2009 AWDESH KUMAR Versus PUNJAB NATIONAL BANK & ORS ----------- 4 11.8.2009 In the instant writ petition the petitioner prays for restraining the respondents from proceeding against him under the SARFAESI Act, 2002, The petitioner took a loan of Rs.15 lacs in the year 2006 bearing Account No.002200NB00 ND00000037 (INR) for construction of commercial complex on a piece of plot. The petitioner mortgaged required properties in lieu of loan. The petitioner intended to repay the loan on selling the aforesaid shops/flats of the complex. The petitioner submits that the value of the mortgaged property is Rs.1 crore as the same is in the heart of Arrah town. He submits that the property is big enough to take care of the present due amount of Rs.18 lacs only. The petitioner has disputed that any notice either under section 13(2) or section 13(4) of the SARFAESI Act,2002 has been served upon him. He further submits that the properties sought to be taken in possession was not the properties which has been mortgaged. On the other hand, counsel for the Bank states that facts are otherwise and has refuted the submissions made on behalf of the petitioner. The matter is one which requires scrutiny of fact. Considering the facts and circumstances of the case, this court is of the view that it would be open to the petitioner to file an - 2 - KHAN appeal before the Debts Recovery Tribunal under section 17 of the SARFAESI Act,2002 with three weeks from today. No coercive measures would be taken against the petitioner for three weeks, in order to enable him to file an appeal before the Debts Recovery Tribunal. It goes without saying that, in the meanwhile, the petitioner in order to show his bonafide would make a reasonable and viable offer to the Bank and would deposit some reasonable amount with the Bank also. With the aforesaid observations and directions, this writ petition stands disposed of. (S.P.Singh,J)