HIGH COURT OF UTTARAKHAND AT NAINITAL Writ Petition No. 2174 of 2009 (M/S) M/s Sai Survey Instruments & another ... Petitioners .. Versus Central Bank of India & another … Respondents Mr. Arvind Kumar Sharma, Advocate for the petitioners. None for the respondents. 23rd December, 2009 Hon’ble Sudhanshu Dhulia, J. Heard learned counsel for the petitioners. The petitioners have challenged the notice given by the respondent-bank dated 22.10.2009 (annexure no. 1 to the writ petition) under Section 13 (2) of the Securitisatioin and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (from hereinafter referred to as the “Act”). The notice dated 28.10.2009 was however received by the petitioners on 28.10.2009, as per pleadings of the petitioners. Learned counsel for the petitioners Sri Arvind Kumar Sharma has stated that he has an intention to repay the said amount and is prepared to repay the amount in case installments are fixed by the respondent-bank. For this, the petitioners already have a remedy under Section 13 (3 A) of the Act whereby in an event when they receive a notice under Section 13 (2) of the Act, they can make such a representation or raise their objections to the secured creditor, which in the present case is the respondent-bank. However, this has not been done by the petitioners. The petitioners have also an alternative remedy by way of an appeal before the Debts Recovery Tribunal. However, since the petitioners have not exhausted this remedy available to them under Section 13 (3 A) of the Act 2 and as per the averments of the petition that two months period has not come to an end, the petitioners are hereby permitted to make a representation under Section 13 (3 A) of the Act before the secured creditor i.e. respondent bank on or before 28.12.2009, which shall be decided by the secured creditor/respondent-bank within a period of one week thereafter, before proceeding under Section 13 (4) of the Act. With these observations, writ petition is disposed of. No order as to costs. (Sudhanshu Dhulia, J.) 23.12.2009 Avneet