ORDER :

C. Praveen Kumar, J.

1. Challenging the Sale Notice, dated 18.11.2021, published in Hindu English Newspaper on 21.11.2021 without taking recourse to Rule 8 of Security Interest (Enforcement) Rules, 2002, [“Rules 2002”], the present Writ Petition is filed.

2. The facts, which lead to filing of the present petition, are as under :

(i) The second Petitioner herein is the Managing Director of the 1st Petitioner Company. The Respondent Bank sanctioned a term loan of Rs.3,00,00,000/- and also working capital limit upto Rs.3,00,00,000/- on 07.12.2015 under two loan accounts numbers, which are 0644766000002 and 0644261000543. The loan was to be repaid within 28 quarterly instalments starting from April 2017. The immovable properties of the 1st Petitioner Company, namely, plant and machinery; agricultural land to an extent of Ac.1.10 cents situated near JOCIL Company, abutting to Guntur to Narsaraopet State Highway and also a residential house standing in the name of the 2nd Petitioner.

(ii) As the Petitioners committed default in payment of loan amount, their accounts were declared