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2017 (2) TMI 702 - HC - Indian LawsRecovery proceedings initiated by the respondent Bank - non repayment of the loan - Held that:- In totality of the circumstances as noticed this Court is of the opinion that the respondent Bank cannot proceed on the basis of the publication made under Section 13(4) of the SARFAESI Act, only for the reason of the respondent Bank having not considered the objections filed before it, pursuant to the notice under Section 13(2), which was before it; before a decision was taken to proceed under section 13(4); though filed by the defaulter after the 60 days period as prescribed under the SARFAESI Act. It is hence declared that the respondent bank cannot proceed for sale of the properties as per the publication impugned before this Court in the above writ petition and the writ petition would stand allowed leaving open the remedy of the respondent bank to proceed against the defaulter/petitioner in accordance with the provisions of the SARFAESI Act or any other law in force. If the further proceedings are taken under the SARFAESI Act,then it would have to commence from the consideration of objections and a reply given on that count.
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