- (1.) Heard learned counsel for the petitioners.
(2.) By way of filing the present writ petition, the petitioners have challenged the Annexure-3, whereby the respondent Bank is going to auction the house of the petitioners. The respondent Bank has issued notice to the petitioners under Section 13 (2) of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002. Without entering into the merits of the case, I deem it just and proper to grant liberty to the petitioners to file a representation raising all their grievance before the respondent Bank within a period of one week from today as provided under Section 13 (3A) of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 along with a Demand Draft of Rs.1,00,000/-. Upon filing such representation along with demand draft of Rs.1,00,000/-, the respondents shall decide the said representation within a period of two weeks thereafter by speaking order in accordance with law after providing opportunity of hearing to the petitioners. It is made clear that in case the petitioners fail to submit the demand draft of Rs.1,00,000/- with the respondent Bank within the stipulated period, the respondent Bank shall be at liberty to take action against the petitioner for auction of their house.
(3.) Till the decision of the representation, no coercive method shall be taken against the petitioners. After decision upon the representation, if any grievance remains, then the petitioners will be at liberty to avail remedy in accordance with provisions of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002.;