Authority: Uttarakhand High Court (Hon'ble Justice Pankaj Purohit)
Order Date: 27 October 2026
Case Overview
- Petitioner: Shubhi Sharma; Respondents: Punjab National Bank and others.
- The petitioner challenged a sale notice dated 25‑09‑2026 issued under the SARFAESI Act concerning her residential flat (Flat No.5104, Block D (BT‑4), Jurs Country, Jwalapur, District Haridwar).
- Husband (respondent No.2) defaulted on the housing loan, leading to the property being classified as a Non‑Performing Asset; a demand notice dated 30‑05‑2026 demanded Rs 28,61,240, followed by a possession notice and a sale notice proposing to auction the secured asset.
- Petitioner's counsel sought quash of the sale notice and offered to repay the debt in equal monthly installments; the bank's counsel requested a minimum payment of Rs 9 lakh within 15 days to demonstrate the petitioner's bona fides.
Final Outcome
- A. Petitioner shall deposit a sum of Rs 8 lakh with the respondent‑Bank on or before 11‑Nov‑2026.
- B. The balance amount, inclusive of interest, shall be paid by the petitioner in four equal quarterly installments of Rs 5 lakh each, within a total period of one year from 11‑Nov‑2026; the last installment shall cover the entire remaining balance.
- C. In case of violation of any of the above conditions, the respondent‑Bank shall be entitled to recover the entire amount by putting the subject flat on auction.
- D. Consequently, the auction of the subject flat scheduled for 03‑Nov‑2026 is kept on abeyance, subject to strict compliance with the stipulated conditions.
- All pending applications, if any, are disposed of.
Topics: SARFAESI, Banking Dispute