Legal Question in Banking Law in India

Writ Petition

I had filed a Writ Petition against a Bank challenging applicability of the SARFAESI Act on the following points of law:

a. Whether the respondent Bank can proceed under the provisions of SARFAESI Act, 2002 without creating any Security Interest by deposit of title Deeds in respect of the concerned property?

b. Whether the respondent Bank can disburse the loan amount to the Promoter without creating any Equitable Mortgage and / or Security Interest by deposit of title Deeds in respect of the concerned property?

c. Whether provisions of the SARFAESI Act, 2002 can be enforced where the Borrowers are willing to repay their loan in full but the respondent bank is not in a position to hand over the original title deeds of the concerned property to the Borrowers on loan repayment?

On 24/08/2007, the Calcutta High Court had passed an Interim Order keeping the maintainability of the writ open. It was also stated that further action of the Bank should abide by the result of our writ application. The bank was also directed to file an 'affidavit-in-opposition' by 21/09/2007. In good faith, we had temporarily handed over our property but the bank is neither filing an affidavit nor returning our house. What can we do now?


Asked on 6/23/09, 7:33 am

3 Answers from Attorneys
Pranav Desai PD Legal & Associates

Re: Writ Petition

Approach the court to expedite the hearing.

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Answered on 6/27/09, 7:27 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Writ Petition

You may file an appropriate application in the High Court; and may also pray for expeditious hearing of the pending writ petition.

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Answered on 6/23/09, 12:24 pm
J. Radhakrishnan independent Practice

Re: Writ Petition

approach your lawyer thru whom u filed the writ petition and request him to expedite the hearing. No use in seeking any solution from this forum on a matter which is already handled by your Advocate.

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Answered on 6/23/09, 2:22 pm


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