HIRANMAY BHATTACHARYYA,J. - (1.) The instant application under Article 227 of the Constitution of India is at the instance of a borrower and is directed against an order dated March 27, 2018 passed by the Learned Chairperson, Debts Recovery Appellate Tribunal at Kolkata (for short "the Appellate Tribunal") in Appeal No. 35 of 2018.
(2.) The case made out by the petitioner in a nutshell is as follows:
(3.) The Bank being the opposite party no. 1 herein sanctioned the cash credit facilities in favour of the petitioner. A notice of demand was issued in exercise of powers under Section 13(2) of The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the Act of 2002") after classifying the loan account as a Non-performing Asset. The bank took possession of the immovable property belonging to the petitioner no. 3. The sale notice was also published in the newspaper. The petitioners challenged the actions taken by the opposite parties herein under Section 13 of the Act of 2002 by filing an application before the Debts Recovery Tribunal - III, Kolkata (for short "the Tribunal") under Section 17 of the Act of 2002 which was registered as SA No. 484 of 2017.;