Anubha Rawat Choudhary, J. - (1.) Heard Mr. Shreya Mishra, counsel appearing on behalf of the petitioner and Mrs. Sweta Singh, counsel appearing on behalf of Bank of Baroda.
(2.) This writ petition has been filed for seeking direction upon the respondent-bank to dispose of the proposal dated 5.03.2007 in terms of Section 13 (3A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) by way of making one time payment of Rs. 5,28,000/- and the remaining amount in six equal instalments. The petitioner has further prayed for quashing the possession notice dated 20.01.2007 by which the respondent bank has taken possession of the property. Counsel for the petitioner submits that the main grievance of the petitioner is for quashing the possession notice dated 20.01.2007.
(3.) Counsel appearing on behalf of the respondents submits that the petitioner has alternative efficacious remedy of appeal under Section 17 of the SARFESAI Act and accordingly the writ petition itself is not maintainable.;