Authority: High Court of Judicature at Bombay
Order Date: 15 October 2026
Case Overview
- Parties: Petitioner – Sura Krishnakumari Reddy (through Sura Swami Ranga Reddy); Respondent – Dewan Housing Finance Co. Ltd, now known as Piramal Capital and Housing Finance Ltd.
- Nature of Proceeding: Writ petition filed under Section 13(8) of the SARFAESI Act seeking protection from a sale notice that could extinguish the petitioner’s right to redeem the secured property.
- Key Chronology: Physical possession of the secured asset was taken on 08‑10‑2026; the petitioner filed Securitisation Application (Diary) No. 1542 of 2026 on 06‑10‑2026; the next listing before the Debt Recovery Tribunal – II, Mumbai is scheduled for 28‑10‑2026.
- Petitioner’s Statement: The petitioner will arrange payment of the entire outstanding amount within one week of the hearing.
- Respondent’s Statement: The outstanding amount as of the hearing date is Rs 39,89,045; the respondent will refrain from issuing a sale notice for a period of one week if the petitioner’s statement is recorded.
- Court’s Recording: The petitioner’s undertaking to pay the outstanding amount on or before 26‑10‑2026 is recorded. The respondent’s undertaking not to issue a sale notice until that date is also recorded.
Final Outcome
- The writ petition is disposed of with the above statements recorded.
- The respondent is barred from issuing any sale notice on the secured asset until 26‑10‑2026, provided the petitioner fulfills the payment undertaking.
- If the petitioner fails to make the payment by the stipulated date, the respondent is free to proceed with enforcement actions as per law.
- All interim applications, if any, are also disposed of.
Topics: Legal Proceedings, Housing Finance