- (1.) State Bank of India, Ektissal Branch (hereinafter referred to as the bank) sanctioned credit facilities to one of the concerns of the petitioner, namely, East India Chemical Products, in the following manner : (i) Cash credit to the tune of 3 lakhs; (ii) Clean medium loan to the tune of 1 lakh 95 thousand and; (iii) Medium term loan for RS. 95,000/- against STDR of Rs. 1,000,00/- as collateral security and by creating equitable mortgage in respect of 30 Cottahs of land at Dabgram in the district of Jalpaiguri.
(2.) Other credit facilities were also sanctioned by the bank to another concern of the petitioner, namely East India Trading Company and a personal vehicle loan was also advanced to the petitioner.
(3.) The petitioner has filed the instant writ petition, inter alia challenging the notice of sale issued by the bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the SARFAESI Act) being Annexure Petitioner-8 to the writ petition, and with a further prayer for release of excess land which has been wrongfully possessed by the bank.;