Roshni Devi And Another Vs Hinduja Housing Finance Limited And Others (Punjab and Haryana High Court)
The Punjab and Haryana High Court, in the case of Roshni Devi And Another vs. Hinduja Housing Finance Limited And Others, has conditionally stayed proceedings initiated under Section 14 of the SARFAESI Act. The petition was filed by borrowers challenging an order passed under the Act. Taking cognizance of the matter, the court had issued an interim order to stay the proceedings, contingent on the petitioners depositing a total sum of Rs.10 lakh in two installments. The court noted that the petitioners had complied with this condition. Following this, the counsel for the respondent bank confirmed that the loan account had been regularized, and the borrowers’ commitment to pay re-scheduled installments was accepted. With these observations, the court disposed of the writ petition, leaving the parties open to pursue a future settlement through mediation or to approach the Debts Recovery Tribunal (DRT) if needed.
FULL TEXT OF THE JUDGMENT/ORDER OF PUNJAB AND HARYANA HIGH COURT
1.This petition has been filed by the petitioners-borrowers assailing an order dated 18.04.2025 (Annexure P-4) passed under section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short ‘SARFAESI Act’).
