2003 (2) TMI 326

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....itioner seeks to assail the notice issued under section 13 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002, dated 30-1-2002 (Annexure P3/P4) issued by Respondent Bank, calling upon the petitioner to pay the outstanding towards several credit limits/facilities alleged to be extended to petitioner for running their business. 2. Heard Shr....

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....opinion, this Court at this stage cannot examine the legality of the impugned notices sent by the respondents/Banks to Petitioner under section 13(2) ibid for the reason inter alia that no factual enquiry as to whether Petitioner has repaid the money and if so when and how much? Can be held in writ petition. A writ Court cannot be converted into a fact finding Court. It is for the Petitioner to ap....

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....h notice nor the same can be challenged in this writ. 5. Submission of L/C for the Petitioner was that the impugned notice is not in the nature of notice but is in fact an order itself and can always be challenged in writ. I do not agree to this submission. Firstly, if the legislative intent is to give such power to Bank then it cannot be challenged on such ground. Secondly, such submission can b....

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....ntertain such factual plea. If the legislative intent is to allow such plea to be raised only in an appeal to be filed by an aggrieved before the D.R.T. under section 13(4) of the ordinance then such intention has to be given effect to at the instance of the parties only when such event occurs. The legislative intent must be allowed to prevail in its real perspective and it cannot be whittled down....