Krishna S. Dixit, J.—In this Writ Petition, Petitioner has laid a challenge to the possession notice dated 06.03.2017 issued by the 1st Respondent Authorized Office/Deputy General Manager of IDBI Bank Ltd., Gadag, whereby the possession of the Petitioner’s property is sought to be taken by way of enforcing guaranty for the repayment of Bank debt.

2. Brief facts stated are ; Petitioner happens to be the guarantor for the repayment of the loans contracted by 3rd Respondent M/s.Hemagirish Traders taken from the 2nd Respondent-Bank. By way of guarantee, Petitioner admittedly has executed a Memorandum of Equitable Mortgage of his property in favour of lending Bank for securing the repayment of said loans, which have fallen over due.

3. The 3rd Respondent Principal borrower has failed to repay the entire loan amounts despite Demand Notice dated 20.12.2016 and therefore the same occasioned the issuance of Possession Notice at Annexure-C to the Writ Petition under Section 13(12) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Read with Rule-3 of the Security Interest (Enforcement) Rules, 2002. The same is in challenge in thi