R.M. BORDE, J.

1. The petitioner Axis bank Ltd., is seeking quashment of the notices dated 12th August, 2013 and 19th September, 2013 issued by Respondent No. 1/Assistant Commissioner of Sales Tax, (Investigation) (D-001), Thane City Division Thane. The petitioner is also aggrieved by the notice in Form No. 318 under section 33 (1) of the Maharashtra Value Added Tax Act, 2002 issued by the Assistant Commissioner of Sales Tax as well as the consequential communication issued by the Reserve Bank of India on 12th February, 2015.

2. According to the petitioner, one M/s. Jay Mechanical Pvt. Ltd., (represented by the Official Liquidator, in the instant petition as respondent No. 2), approached the petitioner in the year 2008 with a request to extend financial assistance. The petitioner bank extended the financial assistance to the respondent No. 2 - Company and in order to secure the finances the Company mortgaged its immovable property as well as hypothecated its assets in favour of petitioner-bank. The respondent No. 1 Company defaulted in making repayment of the loan. As such the petitioner-bank was constrained to initiate action for recovery of dues.

3. The petitioner bank thr