SANDEEP MEHTA,J. - (1.) Heard learned counsel for the petitioners. Perused the material available on record.
(2.) Through this writ petition under Article 226 of the Constitution of India, the petitioners herein have approached this Court with the following prayers:- "1. The entire proceedings initiated by the respondents under the provisions of the Act of 2002 may kindly be declared illegal and the notice impugned dated 2011.17 (Annex.5) and notice dated 29.3.18 and 4.4.18 (Annex.8) may kindly be quashed and set aside. 2. The respondents may kindly be directed to restructure/reschedule the loan accounts in question strictly in terms of the conditions mentioned in the loan offer letter dated 30.6.11 issued by the erstwhile finance institution First Blue Home Finance Limited. Further, the respondents may be directed to reduce the rate of interest so also make the equated monthly installments reduced making it easy for the petitioners to repay the outstanding amount while enhancing the tenure of the loan from 180 months to that of 360 months as per the assurance/promise made by Mr. Narendra Kumar Sharma, Head of Incharge of the respondent bank."
(3.) Manifestly, the prayers made by the petitioners in this writ petition are tenable while exercising the extraordinary writ jurisdiction conferred upon this Court by Article 226 of the Constitution of India considering the fact that the statutory remedy of approaching the Debt Recovery Tribunal under Section 17 of the The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as "the SARFAESI Act") is available to the petitioner for assailing the impugned notices issued under Sections 13 and 14 of the Act of 2002.;