IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC NO.10491 OF 2011 DEVANTI VERMA WIFE OF YOGENDRA PRASAD VERMA, C-78, GANDHI BIHAR, POLICE COLONY ANISHABAD, POLICE STATION GASRDANIBAGH, PATNA. VERSUS 1. SENIOR BRANCH MANAGER VIJAYA BANK FRAZER ROAD, PATNA 2. AUTHORIZED OFFICER, VIJAYA BANK FRAZER ROAD, PATNA. ----------- 2 13.07.2011. The petitioner prays for quashing tender cum public auction sale notice dated 28.5.2011, published on 7.6.2011 in a daily newspaper on behalf of the Vijaya Bank, Frazer Road, Patna, whereby the property in question has been put for auction sale. The petitioner’s husband, proprietor of M/s Maa Kamakshya Construction took loan of Rs. 5 lakh from the Vijaya Bank making the petitioner as guaranter. Now, on account of non-payment of loan amount, the bank has taken possession of the property under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of dues and further interest. The petitioner submits that her husband is traceless for last four years and without noticing her, the bank has taken this step for recovery of loan amount. She further submits that she is ready to repay the loan 2 amount in instalments. Merely because the husband of petitioner is traceless, the liability of payment of loan amount from the principal guarantor/the petitioner cannot be waived. As petitioner is ready to repay the loan amount, this Court passes following order:- a). Petitioner may resort to remedy available under the SERFAESI Act. b). The Court grants 3 weeks time to the petitioner for settlement. c). The bank would work out terms of repayment of loan, provided the petitioner approaches it within the stipulated period. d). No further action consequent to proposed auction sale dated 28.5.2011, contained in Annexure 1 would be taken for three weeks. The writ petition is disposed of in the aforesaid terms. Shashi ( S.P. Singh, J.)