ORDER

1. The Petitioner-Bank is before this Court under Article 226 of the Constitution of India assailing the order bearing No.MAG(2)CR436/2015-16/160651/C4 dated 26.12.2015 passed by the second respondent rejecting the application of the petitioner under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, SARFAESI Act).

2. Heard Shri M.Mohamed Ibrahim, learned counsel for the petitioner and Smt.Rashmi Patel, learned High Court Government Pleader for Respondent Nos.1 and 2.

3. Perused the writ petition papers.

4. Learned counsel for the petitioner would submit that the petitioner sanctioned loan to one M/s. V- Hypermart, a Partnership firm by sanction letter dated 27.11.2012. As the borrower defaulted in repayment, the petitioner initiated recovery action by issuing notice under Section 13(2) of the SARFAESI Act on 08.01.2015. Thereafter, it is submitted that possession notice in respect of the secured assets under Section 13(4) was issued on 18.04.2015. The petitioner filed an application under Section 14 of SARFAESI Act before the first respondent seeking assistance in taking possession of the secured ass