Naresh H. Patil, C.J. - (1.) The appeal is directed against the order passed by the learned Single Judge of this Court in Official Assignee's Report No.4 of 2018 in Insolvency Petition No.2 of 2016 dated 4th December, 2018.
(2.) One Mr. Soumit Ranjan Jena stood guarantee to a loan availed of by one M/s. R.B.S. Commtrade Pvt. Ltd. from the appellant Bank. Mr. Soumit Jena accordingly executed an Agreement of Guarantee on 7th May 2013. On 14th June 2013, Mr. Jena deposited the title deeds in respect of the mortgaged property with the appellant Bank. Since the borrower of the appellant Bank defaulted in repayment, the account was declared as non-performing asset. The appellant called upon the insolvent to pay the outstanding balances. Appellant also revoked the facilities granted to the borrower and invoked personal guarantee. In Insolvency Petition No.2/2016, Mr. Jena was held to be insolvent. The Official Assignee thereafter filed reports in said insolvency proceedings.
(3.) The appellant filed a Notice of Motion bearing No.37/2018 in the Official Assignee's report in the Insolvency Petition to direct the official assignee to hand over possession and keys of the property which according to the appellant, were the mortgaged flats. Official Assignee filed a report for a direction to the appellant to deposit the title deeds. The appellant placed on record that the appellant is to proceed under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity 'the SARFAESI Act'). The learned Single Judge by the impugned order dated 4th December, 2018 rejected this Notice of Motion. Hence, the appellant Bank has come in appeal.;