WRIC/12826/2025 of RAM SHANKAR GUPTA Vs U.O.I. MINISTRY OF FINANCE DEPTT. OF FINANCIAL SERVICES THRU. ITS SECY. AND 2 OTHERS on 3 January 2026

1. Heard Ms. Jyoti Rajpoot, learned counsel for the petitioner. Despite notice no one has appeared either for the Union of India or on behalf of respondent-Bank.

2. It has been submitted by learned counsel for the petitioner that petitioner has availed credit facility for an amount of Rs. 20,00,000/- in the nature of CC Limit and Rs.2,00,000/- (un-secured MSME) and Rs.4,00,000/- (un-secured GECL) and Rs.2,40,000/- (un-secured GECL) from the respondent Bank in the year 2015.

3. It seems that petitioner was not able to re-pay the aforesaid amount and accordingly, said account was declared "Non Performing Asset" (NPA) and the respondent-Bank has proceeded to recover the outstanding amount from the petitioner under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "the SARFAESI Act, 2002").

4. Notice under Section 13(2) and 13(4) of the SARFAESI Act, 2002 have also been served and in order to take possession of the secured assets, an order under Section 14 of the SARFAESI Act, 2002 was also passed. The petitioner has also preferred SA before the Debt Recovery Tribunal, Lucknow alongwith an application for condonation of delay under Section 5 of the Limitation Act on 16.01.2024. Versus Counsel for Petitioner(s) : Gaurav Gupta, Jyoti Rajpoot Counsel for Respondent(s) : A.S.G.I. Ram Shankar Gupta .....Petitioner(s) U.O.I. Ministry Of Finance Deptt. Of Financial Services Thru. Its Secy. And 2 Others .....Respondent(s)

5. In the present writ petition petitioner has sought direction to the respondent-Bank not to proceed for actual possession till disposal of the interim relief application which is pending before the Debt Recovery Tribunal, Lucknow in SA No. 180 of 2024 - M/s Awadh Agency Vs. Canara Bank, under Section 17 of the SARFAESI Act, 2002.

6. At the very outset, learned counsel for the petitioner submits that during course of filing of present writ petition the possession of the secured assets has already been taken by the authorities and to that extent the main relief sought by the petitioner has become infructuous.

7. After arguing the matter up to some length, learned counsel for the petitioner submits that grievance of petitioner shall be substantially redressed in case the Debt Recovery Tribunal, Lucknow is directed to decide the SA No. 180 of 2024, under Section 17 of the SARFAESI Act, 2002, expeditiously.

8. Considering the innocuous prayer made by learned counsel for the petitioner, the present writ petition is disposed of with direction to the Debt Recovery Tribunal, Lucknow to decide SA No. 180 of 2024, under Section 17 of the SARFAESI Act, 2002, expeditiously, preferably within three months from the date of production of certified copy of this order, in accordance with law.

9. The petitioner undertakes to cooperate in the proceedings before the Debt Recovery Tribunal, Lucknow and shall not take any unnecessary adjournment. January 3, 2026 A. Verma WRIC No. 12826 of 2025 2 (Subhash Vidyarthi,J.) (Alok Mathur,J.) Digitally signed by :- ANURAG VERMA High Court of Judicature at Allahabad, Lucknow Bench