MR. NISHAR AHMED ABUBAKKAR Vs. DENA BANK

JUDGEMENT

(1.) By way of this writ petition, the petitioner seeks to question the orders dated 02.11.2016 and 05.05.2017, as passed in RA(SA) No.196/2010, whereby the Debts Recovery Appellate Tribunal ('DRAT'), Chennai, has declined to interfere in the order dated 26.03.2010 passed by the Debts Recovery Tribunal ('DRT'), Bengaluru, in SA.No.572/2009; and has also declined to entertain the review application.

(2.) The relevant background aspects of the matter are that the petitioner had availed financial assistance from the respondent - Bank in the form of Housing Loan to the tune of Rs. 75 lakhs and Cash Credit facility to the tune of Rs. 10 lakhs while mortgaging two immovable properties. The petitioner having failed to repay the loan amount as per schedule, the accounts in question were categorized as non-performing asset. The Bank adopted the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 ('SARFAESI Act') and ultimately, issued possession notice dated 07.09.2009. The proceedings adopted by the Bank were sought to be questioned by the petitioner before the DRT, while asserting that the Bank had not supplied the details of loan account and repayment; that he was not served with notices; and that the notice published in the newspaper was vague and lacking in material particulars. The challenge to the Bank's action before the DRT was rejected, inter alia, with the following observations:

(3.) Before the DRAT, again, the issues were raised on behalf of the petitioner about want of proper service of the notices. The DRAT found no case for interference, while observing, inter alia, as under: