Mahesh Bhagwati Yadav, J. - (1.) BY way of the instant writ petition, the Petitioner has sought the following relief: (i) an appropriate writ, order or direction to direct the Respondent bank to give back he physical possession over the mortgaged property to Petitioner and Respondent further be directed not to publish any press note regarding the mortgage property and further Respondents be directed not to initiate any auction proceedings of the mortgage property; (ii) an appropriate or direction be Respondents to revise installment as well as per the actual release amount of Petitioner housing loan account i.e. Rs. 5,00,000/ - and the Respondents be further directed to adjust the amount which was paid by the Petitioner. (iii) Any other appropriate relief, which is deemed just and property, may also be passed in favour of the Petitioner.
(2.) HAVING considered the submissions made at the bar and carefully perused the relevant material on record, it is noticed that State Bank of India, Branch Sanganeri Gate, Jaipur sanctioned a loan of Rs. 6,75,000/ - to the Petitioner on mortgaging his land and building situated in village Badh Devi, Sector -7, Mansavorar, Jaipur. Since the Petitioner failed to repay the loan amount, notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (here -in -after to be referred to for short as "Act of 2002") was issued to the Petitioner. Subsequently, the Respondent Bank filed an application under Section 14 of the Act of 2002 before the District Collector and District Magistrate, Jaipur for providing police assistance in order to take the possession of the disputed property. District Collector and District Magistrate, Jaipur vide its order dated 16.12.2010 allowed the application of the Respondent -Bank and in pursuance thereto, the Respondent bank took possession of the mortgaged property of the Petitioner. It is further noticed that by way of the instant writ petition, the Petitioner has implored the Court to get back the physical possession of the mortgaged property, which has already been taken over by the Respondent -bank.
(3.) AT the very outset, it is relevant to record that in plethora of judgments, the Hon'ble Apex Court has reiterated the well settled principle of law that ordinarily relief under Articles 226/227 of the Constitution of India is not available, if an efficacious alternative remedy is available to any aggrieved person.;