9911796707
TMI Blog2017 (5) TMI 1701X X X X Extracts X X X X X X X X Extracts X X X X ..... 02.06.2017 the auction proceedings shall be kept in abeyance so that the petitioner may avail his remedy, provided the petitioner deposits the amount with the Bank towards advertisement cost/charges, already undergone for this auction on May 8, 2017, within seven days from today. It is further made clear that the petitioner shall approach the Manager of the concerned Bank/Branch within a perio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... idwar in the year 2010-11, for setting up a textile industry at Haridwar. During the course of time, its account has been declared as a non-performing assets (NPA) and subsequently, the Bank has initiated proceedings for realization of the amount under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (from hereinafter referred to as SARFAESI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay of e-auction. The total liability against the petitioner as on date, according to the Bank, is presently around ₹ 65 crore (Rupees Sixty Five Crore Only). 3. Learned counsel for the petitioners on the other hand would plead that the factory was fully functional but till the possession of the property has been taken away from them. In order to show their bona fide, the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he affidavit pass suitable orders. 5. Order of the District Magistrate, Haridwar dated 10.10.2017 has been perused. It has been contended by the petitioner that it is a telegraphic order which does not reflect that there was any satisfaction of the contents of the affidavit by the District Magistrate, as is required under Section 14 of the SARFAESI Act. Learned counsel for the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Manager of the concerned Bank/Branch within a period of three days from today, who shall provide the details as to the expenses incurred by the Bank for the advertisement, which shall be paid by the petitioner, failing which the auction shall go on. 8. With the aforesaid directions, the writ petition stands disposed. 9. Let a certified copy of this order be supplied to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
