- (1.) This writ petition has been filed for issuing a direction upon the respondent Nos. 3 and 4 to handover the possession of the secured assets (double storied house) situate at Manglapuri Mandi, Shahpur, Pargana Shikarpur, Tehsil Budhana, District Muzaffarnagar (hereinafter called the ''premises in dispute) to the petitioner.
(2.) The facts and circumstances giving rise to this case are that the respondent no.6, a partnership firm, of which Shri Amit Jain is the sole proprietor, had taken loan from the said respondent nos. 3 and 4 (hereinafter called the ''Bank') for establishment of an industry. The present petitioner alongwith his father stood guarantor. In order to secure the loan, there had been a mortgage of the premises in dispute with the said Bank. As the loan could not be repaid, the Bank initiated proceedings by issuing notice dated 30.10.2002 under Section 13(2) of ''The Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002' (hereinafter called the ''Act 2002'). In pursuance thereof, a notice under Section 13(4) of the Act 2002 was issued on 04.04.2003. Subsequent thereto, the matter had been settled amicably between the respondent no.6 and the said Bank. The loan stood liquidated and the guarantors stood discharged. However, petitioner's grievance has been that the premises in dispute which had been mortgaged to the said Bank and possession of which had been taken by the Bank during the proceedings under the Act 2002, has not been handed over to the petitioner rather, in collusion with the employees of the Bank, the respondent no.5 has taken forcible possession of the same. Therefore, this Court must issue direction to the respondent Bank to hand over the said premises to the petitioner with the aid of the district administration, after evicting the respondent no.5 from the same.
(3.) Shri Ravi Kiran Jain, learned Senior Counsel appearing for the petitioner has submitted that it was the solemn duty of the Bank to hand over the possession of the premises in dispute to the petitioner after the loan had been repaid as per the settlement between the parties. In collusion with the respondent no.5, the possession has been handed over to him, therefore, the petitioner is entitled for the relief sought.;