Andhra Pradesh High Court - Amravati
Smt. Prasuna Ramireddy vs Iifl Home Finance Limited, on 24 October, 2019
Author: J. Uma Devi
Bench: J. Uma Devi
THE HON'BLE SRI JUSTICE A.V.SESHA SAI
AND
THE HON'BLE MS. JUSTICE J. UMA DEVI
WRIT PETITION No.16726 of 2019
ORDER:( per the Hon'ble Sri Justice A.V.Sesha Sai) Heard Sri G.Purushotham Reddy, learned counsel for the petitioner, and perused the entire material available on record.
2. The notice, issued under sub-Section (2) of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (for brevity, 'the Act'), is under challenge in the present Writ Petition.
3. According to the petitioner, she got issued two legal notices, one on 03.07.2019 and another on 31.07.2019, to demonstrate the non-sustainability of the said notice. In this context, it is required to be noted that sub-Section 3-A of Section 13 of the Act enables the borrower to make representation or to raise objection after receipt of notice, under sub-Section (2) of Section 13 of the Act, and the said provision of law also obligates the secured creditor to consider such representation or objection. The said provision also mandates communication of the decision by the secured creditor in the event of the representation or objection not being satisfactory.
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4. It is the further submission of the learned counsel that, without communicating anything, as mandated under sub- Section 3-A of Section 13 of the Act, the second respondent- bank authorities are actively contemplating to proceed further with the process of auctioning the property.
5. In the instant case, according to the petitioner, she got issued the legal notices, objecting the very issuance of notice, under Section 13 (2) of the Act.
6. In view of the above said provision of law, this Court deems it appropriate to dispose of the Writ Petition, keeping it open for the petitioner herein to submit a representation/ objection to the notice, issued under sub-Section (2) of Section 13 of the Act, within a period of one week from the date of receipt of a copy of this order, and, if any such objection/representation is submitted, the same be considered and appropriate action be taken, strictly in accordance with the provisions of sub-Section 3-A of Section 13 of the Act, and, while considering the said objection, respondent-bank authorities shall also consider the contents of the legal notices, dated 03.07.2019 and 31.07.2019, got issued by the petitioner, and, thereafter, shall proceed, strictly in accordance with law. It is also made clear that, till the said exercise is completed, status quo as on today, with regard to the subject property, shall be maintained.
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7. Accordingly, Writ Petition is disposed of. There shall be no order as to costs.
8. As a sequel thereto, miscellaneous petitions, pending, if any, shall stand closed.
__________________ A.V.SESHA SAI, J ________________ J. UMA DEVI, J 24th October, 2019.
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