Authority: High Court of Chhattisgarh at Bilaspur
Order Date: 06/10/2026
Case Overview
- Petitioner: Devkaran Markam, 49, resident of Shri Radhakrishna Niwas, Ward No. 8, Dakbangla, Gariaband, Chhattisgarh.
- Respondents: Bank of India (Head Office, Mumbai), Bank of India Raipur Zonal Office, Authorized Officer of BOI Raipur Zonal Office, and Branch Manager of BOI Gariyaband Branch.
- Dispute concerns the scheduled auction of the mortgaged commercial property “Yug Super Bazaar” at the petitioner’s address, set for 09 Oct 2026 by the Bank.
- The petitioner obtained a loan of Rs 58,00,000 on 19 Nov 2019 at 10.80 % p.a., secured by the said property. The loan became irregular; outstanding balance was Rs 64,15,917 on 03 Jul 2021, later reduced to Rs 58,25,628 as of 24 Apr 2024 after repayments.
- The petitioner sought a stay on the auction, expressing willingness to file an application under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Debt Recovery Tribunal (DRT) Jabalpur. However, the DRT‑Jabalpur jurisdiction has been transferred to DRT‑2 Ahmedabad, prompting a request for breathing space.
- The petitioner also indicated readiness to repay the outstanding dues if time is granted.
Final Outcome
- The Court disposes of the writ petition, granting the petitioner ten (10) days from receipt of the order to file the appropriate application before DRT‑2 Ahmedabad and to seek transfer of the case from DRT‑Jabalpur.
- The petitioner may also approach the Bank for payment relief within the same period.
- The Court expressly states that it has not expressed any view on the merits; the adjudicating authority (DRT and the Bank) will decide the case on its own merits.
Topics: Banking, Court Order