Pratap Krishna Lohra, J. - (1.) Matter comes up on an application under Article 226(3) of the Constitution of India laid on behalf of second respondent for modification/vacation of interim order but, with the consent of learned counsel for parties, matter is heard finally at this stage.
(2.) Petitioner has preferred this writ petition for claiming under -mentioned reliefs: i) the instant writ petition may kindly be ordered to be allowed and a writ, order or direction in the appropriate nature may kindly be issued in favour of the humble petitioner. ii) the impugned action of the respondents herein initiated against the humble petitioner may kindly be ordered to be dropped and the possession notice as has been affixed on the property of the humble petitioner measuring 15629 sq. ft. may kindly be ordered to be quashed and set aside and the possession notice and the sell notice dated 06.08.2015 (Annexure -5) as has been published in the local daily newspaper may kindly be ordered to be quashed and set aside; iii) any other order of direction, which this Hon'ble Court deems fit and proper in the facts and circumstances of the present case may kindly be passed in favour of the humble petitioner;"
(3.) To authenticate her case for granting aforementioned reliefs, it is averred in the writ petition that a converted land situated at 6 -E -Chhoti, Tehsil & District Sriganganagar of Khata No. 110/97 in Murabba No. 13 measuring 15629 sq. ft. was sold to her by third respondent. In order to prove the transaction, an agreement to sale, allegedly executed by third respondent in her favour, is placed on record as Annex.1. As per the version of petitioner, the said land is still agricultural land and also recorded in the revenue record as such. A positive assertion is made that, when the agreement to sale was executed by third respondent, the land in question was free from all encumbrances and there was no charge of any bank over the said land including the respondent -Bank. While adverting to the facts pertaining to third respondent, the petitioner has stated in the writ petition that he is an authorised signatory of M/s. Mode Attire Pvt. Ltd., New Delhi and the said company had some financial transactions with the respondent -Bank. Pursuant thereto, third respondent created an equitable mortgage of some properties with the Bank. The amount of credit facility availed by the company from the Bank was not repaid, and therefore, its loan account was classified as Non -Performing Asset (NPA) showing a sum of Rs. 3,51,20,822.20 outstanding as on 31st of March, 2003. Be that as it may, the petitioner has made a positive assertion that so far as the land for which third respondent has executed agreement to sale in her favour was never mortgaged with second respondent -Bank and obviously it was not possible to mortgage the same being agricultural land. However, it is also asserted by the petitioner that subsequently the said land is converted into residential and commercial and lease deed was also executed in favour of third respondent. Copy of lease deed is also placed on record as Annex.3. Respondent -Bank after classifying the loan account of third respondent as NPA initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'Act of 2002') and thereafter also resorted to Sec. 14 of the Act of 2002 for taking possession of the property by approaching Sub Divisional Officer, Srigangangar. The Bank then proceeded for auction of the property by resorting to E -auction. On coming to know about the E -auction notice, as per petitioner, she has submitted an application before the respondent -Bank showing her intention to purchase the land in question and also tendered a cheque worth Rs. 20 lacs showing her bona fide. Thus, it is in that background, petitioner has taken shelter of this Court with this plea that her handsome amount is lying with the Bank and as such no further action for auction of the property be taken. The aforesaid action of the respondent -Bank is also questioned on various other counts.;