Interim protection against dispossession may be granted under SARFAESI subject to deposit of part of the dues.

The Punjab & Haryana HC noted that a notice under Section 13(2) of the SARFAESI Act reflected the outstanding dues and that the petitioner sought time to deposit part of the amount to protect the mortgaged property. Pending further hearing, the Court directed notice and granted interim protection against dispossession, maintaining status quo as to possession subject to deposit of the specified sum.

---

---

Issues: Whether interim protection against dispossession could be granted subject to deposit of part of the claimed amount.

Analysis: The petitioner stated that the notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 reflected the outstanding amount and sought time to deposit part of the dues to save the mortgaged property. The Court directed notice and, pending further hearing, protected the possession of the disputed property subject to the petitioner depositing the stated amount.

Conclusion: Interim protection was granted and the status quo as to possession was directed to be maintained subject to deposit of the specified sum.

---