S.Manikumar, J. - (1.)Sale notice dated 14.02.2018, issued in DRC No.156 of 2016 is challenged in the impugned writ petition. Sale is fixed on 26.03.2018.
(2.)Contending inter alia that the petitioners were only sharers in the property mortgaged, substantial payment has been made towards, the outstanding dues, that there is negotiation with the bank for one time settlement and that in the above circumstances, issuance of e-auction sale notice dated 14.02018, is unwarranted, Mr.N.A.Kareem, learned counsel for the petitioners made submissions and on the facts and circumstances and prayed to set aside, the e-auction sale notice, issued under Rule 52 (2) of the Second Schedule to the IT Act, 1961 r/w Section 25 to 29 of the RDDBI & FI Act, 1993. Sale notice dated 14.02018, has been issued by the recovery officer.
(3.)Statute provides for an appeal against the order of a Recovery Officer under Section 30 of the RDDBI & FI Act, 1993, on tenable grounds.