NIROD KUMAR DEKA Vs. ORIENTAL BANK OF COMMERCE AND 3 ORS
HIGH COURT OF GAUHATI
Nirod Kumar Deka
Oriental Bank Of Commerce And 3 Ors
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A.S. Bopanna, J. -
(1.) Heard Mr. B.D. Goswami, learned counsel for the petitioner. Also heard Mr. A. Bharali, learned counsel for the respondents.
(2.) The petitioner is before this Court assailing the order dated 16.11.2018 passed by the Debts Recovery Tribunal, Guwahati (for short "DRT") in I.A. No.143/2018 in S.A. No.73/2018.
(3.) The petitioner herein is a borrower from the respondent Bank. Since the petitioner had committed default in repayment, the respondent Bank had invoked the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short hereinafter referred to as 'SARFAESI Act') and action had been taken under Sections 13 and 14 of the said Act. Accordingly, the secured asset had been sealed after taking possession and further action for recovery is undertaken by the respondent Bank. At that stage, the petitioner was before this Court in W.P.(C) No.7492/2018. This Court had relegated the petitioner to his remedy under the SARFAESI Act as provided under Section 17 thereof. Accordingly, proceeding in S.A. No.73/2018 had been initiated.;
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