ORDER :

C. Praveen Kumar, J.

1. Challenging the Order passed by the Chief Judicial Magistrate-cum-Principal Assistant Sessions Judge, Guntur, in an application filed by the Secured Creditor under Section 14(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 ['SARFAESI Act'], the borrowers/Petitioners filed the present Writ Petition under Section (sic Article) 226 of the Constitution of India.

2. The facts, in nutshell, are as under:

(i) The Petitioners herein obtained housing loan for a sum of Rs. 75,00,000/- under loan account No. 0605619007334 on 30.03.2016 and a sum of Rs. 75,00,000/- under housing loan CRE vide loan account No. 0605627000001 on 31.03.2016 from the 1st Respondent Bank. As the Petitioners committed default in payment of monthly instalments, the loan accounts of the Petitioners were declared as Non Performing Assets in the month of July 2019.

(ii) The 1st Respondent Bank issued Section 13(2) notice calling upon the Petitioners to pay the outstanding dues in the loan accounts within 60 days. Thereafter, the 1st Respondent Bank initiated action under Section 13(4) of the Act and took symbolic possession of th