- (1.) Heard learned counsel for the petitioner and learned Standing Counsel for the State respondents.
(2.) Petitioner has availed home loan facility from the respondent Finance Company. Admittedly, there was a default in repayment of the loan amount. Thereafter the respondent Finance Company initiated proceedings under the SARFAESI Act, 2002. An application under Section 14 of the Act was made by the respondent Finance Company seeking assistance from the State authorities for taking over actual possession of the mortgaged property which was allowed vide order dated 27.11.2017 which is impugned in this petition.
(3.) Learned counsel for the petitioner states that the petitioner is ready and willing to liquidate the entire outstanding dues provided he is permitted to do so in instalments on account of stringent financial situation.;