Authority: Uttarakhand High Court (Hon'ble Manoj Kumar Tiwari, J.)
Order Date: 05-08-2026
Case Overview
- Petitioner: Kehkasha Bi; Respondents: State of Uttarakhand and Nainital Bank Limited.
- Petition filed under writ jurisdiction seeking quashing of the bank's SARFAESI order dated 30‑06‑2026 and final notice dated 07‑07‑2026, and mandamus to prevent possession of the petitioner's property.
- Home loan amount: ₹2,190,000 taken in 2024; an additional cash‑credit limit was declared NPA on 01‑09‑2024.
- Bank asserted its right to recover under the SARFAESI Act; petitioner offered to repay early, proposing six installments, while the bank counter‑offered a 25 % upfront deposit followed by four installments.
Final Outcome
- Parties reached consensus; the writ petition is disposed of.
- Petitioner shall deposit 25 % of the outstanding home‑loan amount on or before 31‑08‑2026.
- Subject to that deposit, the remaining amount shall be paid in four installments: first installment on or before 07‑10‑2026, second on or before 25‑11‑2026, third on or before 01‑01‑2027, and final installment on or before 31‑01‑2027 (the final installment includes interest).
- In case of any default by the petitioner in complying with the above conditions, the bank shall be at liberty to proceed against the petitioner as per law.
- The petitioner gave an undertaking that he will neither sell nor create any third‑party interest in the secured asset until the home loan is fully liquidated.
Topics: Home Loan Recovery, SARFAESI Settlement