- (1.) The petitioner in this Art. 226 petition dated September 3, 2010 is questioning the validity of the things stated in para 3 of a letter of the Chief Manager and Authorised Officer, UCO Bank, Basara Branch, Howrah dated August 14, 2010 (at p. 35).
(2.) The relevant contents of the letter are quoted below : "1. Please refer the Notice dated 6-10-2007 addressed by the Bank to you in terms of Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act. 2002 (No. 54 of 2002). 2. You have failed to repay the Bank's dues as claimed in the said notice. Accordingly, Bank will now exercise all or any of the right stated under sub-section (4) of Section 13 of the said Act and other applicable provisions under the said Act. 3. In this connection, Bank has engaged M/s. Gats Financial Reconstruction Limited, as Bank's Enforcement Agency to assist the Bank to take all necessary step for exercise of rights under Section 13(4) of the Act, which please note."
(3.) Mr. Banerjee, counsel for the petitioner, has argued as follows. In view of the provisions of Ss. 2(l)(v), 3, 5, 10, 13 and 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and Rr. 2(a) and 8 of the Security Interest (Enforcement) Rules, 2002, the Bank did not have any power or authority to appoint any enforcement or recovery agent for exercising rights of the Bank under S. 13(4) of the Act.;