ARUN BHANSALI,J. - (1.) This writ petition has been filed by the petitioners aggrieved against pre-possession notice dated 15.03.2014, demand notice dated 10.12.2013 and order dated 26.03.2014 passed by the Debts Recovery Tribunal, Jaipur ('DRT') and seeking further directions to the respondent Bank to restructure the outstanding amount calculated after undertaking the thorough exercise in a fair, transparent and objective manner relating to rate of interest, which is to be charged in respect of all the three accounts of petitioners.
(2.) The petitioner Nos.1 to 5 are guarantors/mortgagors in connection with the credit facilities availed by petitioner No.6 - PC Care 247 Solutions Pvt. Ltd. from respondent-Bank. It is claimed in the writ petition that petitioner No. 6 Company falls under Small and Medium Enterprises ('SME') Sector and, therefore, entitled to protection available under MSMED Act, 2002 and directions/guidelines issued by Reserve Bank of India from time to time; in respect of the credit facilities granted to the Company the petitioner Nos.1 to 5 received communication dated 10.12.2013 under section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act'), wherein, a demand for Rs. 3,60,36,513.72 P. as on 09.12.2013 was made. A reply dated 30.12.2013 to the notice was submitted and the liability set out by the Bank was denied. The reply given by the petitioners was rejected by communication dated 02.01.2014 and a possession notice dated 18.02.2014 was issued, against which, petitioners preferred a Securitisation Application ('the S.A.') under Section 17 of the SARFAESI Act before the DRT.
(3.) After filing of the S.A., the respondents on 26.02.2014 withdrew the possession notice dated 18.02.2014 and thereafter again issued notice dated 15.03.2014 titled pre-possession notice calling upon the petitioner to hand over possession by 31.03.2014 and threatening that if the possession was handed over, on or after 02.04.2014 the same shall be taken over and police authorities were also informed in this regard.;