- (1.) We have heard Shri Neeraj Kumar Srivastava, learned Counsel for the Petitioner and Shri A.C. Tiwari, learned Counsel for the Respondent Nos. 1 and 2.
(2.) The Petitioner had taken loan from the Respondent No. 2-State Bank of India for housing purposes. It appears that the Petitioner defaulted in payment of instalments, and therefore, proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 have been initiated against the Petitioner. Notice dated 31.3.2010 (Annexure-3 to the writ petition) purporting to be under Section 13(2) of the said Act has been published in the Newspaper. The name of the Petitioner appears at Item No. 3 in the said notice.
(3.) Learned Counsel for the Petitioner states that the Petitioner is ready to deposit the amount mentioned in the said notice as due from the Petitioner with up-to-date interest in instalments. He further states that the Petitioner will deposit Rs. 1,50,000 (Rupees one lac fifty thousand) within six weeks from today, and as regards the balance amount, the Petitioner will deposit the same in instalments as fixed by the Court.;