Nooty Ramamohana Rao, J.

The petitioner herein sought for a Writ of Mandamus for declaring the E-auction notice dated 15.10.2015 issued by the Authorised Officer, Canara Bank, Secunderabad proposing to sell the immovable property covered by plot No.70 admeasuring 278 square yards situated in survey No.66/6, Ward No.3, Block No.7 in Mansoorabad Village, Saroornagar Mandal, L.B.Nagar Municipality, Ranga Reddy District, as illegal being contrary to the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (henceforth referred to, for brevity, as ‘the Act’) and Rules 8 (6) and 9 of the Security Interest (Enforcement) Rules, 2002.

Heard Sri E.Madan Mohan Rao, learned counsel for the petitioner and Sri Deepak Bhattacharjee, learned Standing Counsel for the Canara Bank on behalf of the respondents.

It appears the 1st respondent – Bank has provided certain financial assistance to a company named as M/S Eversure Aqua Solutions Private Limited. The petitioner herein, who claims to be an Ex-serviceman and another person by name Smt. G. Jayamma stood as guarantors for the said loan transaction. As part of this arrangement,