- (1.) Heard Sri H.N. Shukla, learned counsel for the petitioner and Sri Amrish Singh, who has accepted notice on behalf of respondent-bank.
(2.) Challenge in this petition has been made to the notice dated 30.08.2017 issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to 'SARFAESI Act, 2002') for recovery of outstanding dues.
(3.) Admittedly, the petitioner obtained a cash credit limit to the tune of Rs.60 lakh from the respondent-bank and there was a default on account of which proceedings have been initiated.;