- (1.) This appeal has been preferred against the judgement and order dated 19th March, 2013 whereby the learned Single Judge has dismissed the writ petition on the ground that alternative statutory remedy of the appellants lay in making representation under Section 13 (3A) of The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (hereinafter referred to as "SARFAESI Act") in enabling them to make representations against the impugned notice issued under Section 13 (2) of the said Act and granted the appellant company liberty to urge all issues raised before the appropriate authority.
(2.) The facts giving rise to this appeal are as follows :- The appellant company was enjoying credit facilities from the respondent bank with overall limit of Rupees 29,50,00,000 (Rupees Twenty Nine Crores and Fifty Lakhs) comprising of the following facilities : Cash Credit Rs. 25,00,00,000/- Standby Let6ter of Credit Rs. 3,75,00,000/- Inland Letter of Credit Rs. 75,00,000/- Periodically the said facilities were enhanced to Rs. 68,50,00,000/- (Rupees Sixty Eight Crores and Fifty Lakhs) in the following manner: A) Fund based limits Cash Credit Rs. 62,50,00,000/- Standby Letter of Credit Rs. 5,00,00,000/- Total of fund based limits Rs. 67,50,00,000/- B) Non-fund based limits Inland Letter of Credit Rs. 1,00,00,000/- Total limits Rs. 68,50,00,000/-
(3.) The appellants made an application for further enhancement of the limit of such facilities to 93,00,00,000/- (Rupees Ninety Three Crores), but the same was not sanctioned by the appropriate authority.;