IDBI BANK LTD. Vs. STATE OF GUJARAT
HIGH COURT OF GUJARAT
IDBI BANK LTD.
STATE OF GUJARAT
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(1.) This petition under Articles 226 and 227 of the Constitution of India is filed or the purpose of seeking the
following reliefs :-
"8(a) Writ of mandamus or order or direction of appropriate nature directing the respondent no. 2 to pass appropriate orders in application dated 21.03.2020 being Securitization Case No. 86/2020 against Manish Gopalbhai Patel and Ors., as contemplated under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 and take possession of the Mortgage schedule property and hand over the same to the petitioner with directions to police aid as sought in the said application expeditiously and without any further delay.
(b) Pending admission, hearing and final disposal of the petition to direct the respondent no. 2 to decide the Securitisation Application pending on its file within one month.
(c) Such further and other relief, order or direction which may be just, fit, proper and equitable in the facts and circumstances of the petition."
(2.) It is the case of the petitioner that the petitioner has given financial assistance to Manish Gopalbhai Patel against the
securities which are mentioned in the petition. All the necessary
documentation has been validly executed and the valid mortgage
deed in favour of the petitioner was also undertaken and
executed with respect to the properties which are mentioned in
the body of the petition. The account of the borrower became
NPA on 09.07.2019 since the borrowers have not repaid the dues
amount regularly. Resultantly, as per the guidelines framed by
the Reserve Bank of India, the account became NPA and on
account of such circumstance, the petitioner issued notice under
Section 13(2) of the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest Act , 2002
(for short the "Act") to the borrowers on 24.09.2019 for recovery
of Rs.86,24,867.65 paise, but in response thereto, neither any
reply nor any representation is made to the petitioner nor any
amount is paid towards their dues which has necessitated the
petitioner to prefer an application under Section 14 of the Act,
2002 on 21.03.2020.
2.1. The grievance of the petitioner is that despite the fact that this application under Section 14 of the Act, dated 21.03.2020 is to be decided within time schedule framed by the statute, but so far, the same has not been adhere to, which has necessitated the petitioner to approach this Court by way of present petition.
(3.) Learned advocate Mr. Dhruvik Patel appearing for the petitioner has submitted that in an identical situation whenever
such kind of eventualities are taking place, where Section 14
application is not getting decided, the Courts have to pass the
order directing the authorities to take urgent decision and for
that purpose, learned advocate Mr. Patel has referred to some of
the decisions which are attached to the petition compilation and
has requested that the authority be directed to decide the
application under Section 14 of the Act.;
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