This writ petition is filed seeking a mandamus to declare the action of the 151 respondent-Industrial Development Bank of India in issuing Notices dated 5.2.2007 and 7.4.2007 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity "the Act") as arbitrary and illegal and in violation of the petitioner's fundamental rights guaranteed to it under Articles 14, 16, 19 and 21 of the Constitution of India.

1. Industrial Development Bank of India

2. Industrial Development Bank of India

3. State Bank of Indore

2. The Managing Director of the petitioner company, who had sworn in the affidavit filed in support of the writ petition, had stated that the respondents, after issuing the notices impugned in the writ petition, lodged a caveat under Section 148-A CPC on 7.8.2007 and they were later served with advance notices of the writ petition. He had further stated that the petitioner-company was registered in the year 1997 with the sole intent of manufacturing a highly specialized material called "spinel" which is used in the process of manufacture of Refractories and increases its potential and usage. This par