ORDER :

C. PRAVEEN KUMAR, J.

1) Challenging the Sale Notice, dated 13.01.2022, issued by the first Respondent herein, as violative of the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, [for short, “SARFAESI Act”] 2002, and the Rules made therein, the present Writ Petition came to be filed.

2) The facts, which lead to filing of the present Writ Petition, are as under:-

a) The first Petitioner is a Private Limited Company, engaged in construction works. In order to execute the work allotted, namely construction of a Boys Hostel for GITAM College, Bangalore, as per the Work Orders issued by the GITAM University, Visakhapatnam. The first Petitioner approached the 2nd Respondent/bank herein for a loan to a tune of Rs.14 Crores. The request of the first Petitioner was accepted and a sum of Rs.9.00 Crores was sanctioned under first spell for execution of Work Order of Rs.105.03 Crore. The 2nd respondent also sanctioned an amount of Rs.5.00 Crores to the first Petitioner for construction of Boys Hostel at GITAM College, Bangalore.

b) It is said that after availing the loan, the first Petitioner herein commenced construction of t