- (1.) Heard the learned counsel for the petitioner Sri Birendra Singh, Sri S. Singh, learned counsel appearing on behalf of the respondent no. 3 and the learned Standing Counsel appearing on behalf of respondent nos. 1 and 2.
(2.) The instant petition has been filed invoking extraordinary jurisdiction of this court under Article 226 of the Constitution of India with the following prayer; "I. Issue a writ, order or direction in the nature of certiorari quashing the Possession Notice dated 13.3.2020 and Demand Notice dated 4.2.2019 issued by the respondent no.3 (Annexure No. 1 and 2 to the writ petition). 2. Issue any other suitable writ, order or direction, which this Hon'ble Court may deem fit and proper in the facts and circumstances of the case. 3. Award cost of the petition to the petitioner."
(3.) The proceedings initiated against the petitioner by issuing Demand Notice under Section 13 (2) dated 4.2.2019 and Possession Notice dated 13.3.2020 under Section 13 (4) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for the sake of brevity hereinafter referred to as 'SARFAESI Act" read with Rule 8 of Security Interest (Enforcement) Rules, 2002. The aforesaid proceeding has been initiated in exercise of power conferred under Sub Section 12 of Section 13 read with Rule 8 of the Security Interest (Enforcement) Rules, 2002 on failure of repaying the loan amount.;