E DEVI Vs. UNION OF INDIA

JUDGEMENT

(1.) THE writ petition is filed for the issuance of a writ of certioarified mandamus to call for the records of respondents 2 and 3 culminated in the impugned auction sale notice, dated 29. 10. 2007, issued by the third respondent herein, quash the same as illegal and without the authority of law and consequently directing the fourth and fifth respondents to entertain and dispose of the application filed by the petitioner under Section 17 of the securitisation and Reconstruction of Financial Assets and enforcement of Security Interest Act, 2002 (SARFAESI Act) (hereinafter referred to as "the Act") in accordance with law and to the facts and circumstances of the case on hand.

(2.) HEARD the learned counsel for the petitioner as well as Mr. Jayesh B. Dolia, learned counsel, who had taken notice on behalf of Bank-respondents 2 and 3.

(3.) IN respect of the borrowal by the petitioner from the second respondent-Bank, proceedings under Section 13 (2)of the Act was initiated by the Bank by notice dated 04. 08. 2007. As per the said notice an amount of rs. 1,01,08,158/- was outstanding from the petitioner to the second respondent-Bank as on 30. 06. 2007. Subsequently, the possession notice was ordered, by virtue of the powers under section 13 (4) of the Act on 09. 10. 2007 by the third respondent. Admittedly, as against the said possession notice issued under Section 13 (4) of the Act, the petitioner has approached the Debts Recovery Tribunal, Coimbatore, by filing an Original Application No. 124 of 2007.