9911796707
TMI Blog2017 (2) TMI 654X X X X Extracts X X X X X X X X Extracts X X X X ..... ore 15.11.2016. Interest shall be paid for the payments made belatedly, taking into account the delay in their remittance from the respective dates as shown in Ext.P3. However, during the aforementioned period, the Bank will have no obligation to release any of the securities, unless otherwise decided by the Bank. (ii) The sale of the scheduled property shall be fixed only after 15.11.2016. However, it is open for the Bank to take all other steps to notify the property for sale, if so advised. (iii) We make it clear that if any of the payments are not made within the time stated supra, it is open for the Bank to proceed further and recover the entire amount ignoring the direction as stated in Clause (i) above. (iv) We make it clear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and recover the entire amount ignoring the direction as stated in Clause (i) above. 2. W.A. No.1270 of 2016 is filed by the petitioner in the writ petition whereas W.A. No.1346 of 2016 is filed by the first respondent Bank. 3. Records reveal that M/s. Dennis Steels Pvt. Ltd. (hereinafter called as, the 'borrower') borrowed certain amounts from State Bank of India (hereinafter called as, the 'Bank'). The Bank sanctioned various credit facilities to the borrower on sufficient collateral securities, including an extent of 502 acres of land. Since the amounts received by the borrower have remained unpaid, the Bank classified the account as Non Performing Assets (NPA) and thereafter, initiated provisions under the SARFAES ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h certain amounts were partially paid during the interregnum. Ultimately, the learned Single Judge, by the impugned judgment, came to the aforementioned conclusion by disposing of the writ petition. We do not find absolutely no reason to interfere with the said judgment. 5. The judgment passed by the learned Single Judge depicts the lenient view taken. Since the learned Single Judge has exercised his judicial discretion while passing the impugned judgment, we do not propose to interfere with the same in the appeal by the Bank. More over, three months' times granted by the learned Single Judge in the impugned judgment expires on 14.9.2016 i.e. within eight days from this day. However, the learned Senior Counsel appearing for the borro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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