AJAY RASTOGI, J. - (1.) INSTANT petition has been filed by the petitioner assailing the notice served upon him u/s 13(2) of Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 ("Act") through lawyer who has been instructed by the secured creditor.
(2.) At the outset, it will be relevant to observe that at one stage, the Court without going into merits of the case any further was of the view that the matter may be amicably settled and taking note thereof it was observed in the order dt. 21.03.2012 that the out of the dues towards the bank of Rs. 13 Lacs, the petitioner would pay Rs. 5 Lacs and thereafter the matter may be considered but as informed the petitioner for the reasons best known to him still has not complied order of the Court dt. 21.03.2012 and failed to deposit sum of Rs. 5 Lacs and in view thereof the interim arrangement made by the Court after hearing the parties vide order dt. 21.03.2012 has not been carried out by the petitioner for good reasons. The main thrust of submission of counsel for petitioner is that notice impugned herein u/s 13(2) of the Act has been served through advocate of the secured creditor who was neither authorised officer nor can claim to be secured creditor and that being so the notice itself is in contravention of the provisions of the Act. In support of submission, counsel placed reliance upon the judgment in Transcore Vs. Union of India & Anr. : (2008) 1 SCC 125.
(3.) COUNSEL for respondent Sh. Ajeet Bhandari submits that the question raised in the instant petition came up for consideration before the Division Bench of Calcutta High Court in Asset Reconstruction Company India Ltd. Vs. M/s. Amit Ventures Private Ltd. & Ors. ,, AIR 2007 Calcutta 49 and taking note of the provisions of Sec. 13(2) of the Act finally observed that if the advocate on instructions of secured creditor served notice u/s 13(2) of the Act upon the borrower/guarantor, it is sufficient compliance of the mandate of law and will not be defeated only on the premise of notice being served through advocate of the secured creditor.;