- (1.) This order shall dispose of two Civil Writ Petition Nos.22231 and 22265 of 2012 as according to learned counsel for the petitioners, the issue involved therein is identical. For brevity, the facts are being extracted from Civil Writ Petition No.22231 of 2012.
(2.) In Civil Writ Petition No.22231 of 2012, petitioner No.1 is a private limited company and had availed loan facility from respondents No.1 and 2. Having defaulted in repayment of the loan amount, a notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act') was issued on 28 th May, 2012 to which objections were filed by the petitioners on 16 th August, 2012 under Section 13(3A) of the SARFAESI Act.
(3.) According to learned counsel for the petitioners, the respondent-Bank without adjudicating the objections dated 16 th August, 2012, issued possession notice on 23 rd August, 2012, which was published in the newspapers on 28 th August, 2012. The petitioners initiated proceedings before the Debts Recovery Tribunal-I, Chandigarh (for short 'the DRT-I')-respondent No.3 on 4 th September, 2012 by filing SA titled as M/s Vishnu Malleable Pvt. Ltd. and others versus the Authorized Officer, Allahabad Bank and another. Thereafter, auction notice (Annexure P-2) was published in the newspaper on 28 th September, 2012 fixing the last date for submission of the form as 9 th November, 2012 till 4.00 pm and the date for opening of the bid on 10 th November, 2012.;