allahabad HC allows DCB Bank to reclaim possession of mortgaged property in ghaziabad
LUCKNOW, July 19 -- The Allahabad high court has permitted DCB Bank to file a fresh application under Section 14 of the SARFAESI Act, 2002, to reclaim possession of a mortgaged property in Ghaziabad, which was allegedly reoccupied by the borrower. The bank had earlier taken possession of house no. 4, block H, Sector 2 and 3, Tyagi Market, Loni. But the borrower allegedly trespassed back into the property, prompting the bank to seek judicial relief. Division bench of justice Shekhar B Saraf and justice Praveen Kumar Giri passed the order on July 4, directing the ADM to consider bank's fresh application and pass appropriate orders within 2 months, said advocate Aniket Raj, who appeared on behalf of the bank. The court held there is no bar to such applications and that authorities remain empowered until full recovery is made. HTC...
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