Arijit Banerjee, J.

(1) In the instant writ petition the petitioner challenges the notices dated 2nd January, 2015 and 14th March, 2015 issued by the respondent Bank under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short SARFAESI Act) in respect of flat No. 2, Block-KB 10, Sector-III, Salt Lake, Kolkata 700098 (hereinafter referred to as ‘the said Flat’).

The petitioner’s Case:-

(2) The Governor of State of West Bengal executed a deed of lease in respect of Plot No. KB-10, Sector-III, Salt Lake City, Kolkata 700098 in favour of M/s. Ekobana Cooperative Housing Society Ltd. (in short ‘the Society’), for a period of 999 acres subject to the terms and conditions contained in the deed of lease. In terms of the said lease deed no right in the said land could be transferred without the written permission of the Urban Development Department, State of West Bengal, except for creation of mortgage for repayment of loan obtained for house building purposes.

(3) By a deed of conveyance dated 17th March, 2003, the Society conveyed the right, title and interest in respect of flat no. 2 on the ground floor of KB-10, Sector-III, Salt Lake City, Kolkata 700098 i.e. the said flat, to and in favour of the petitioner, subject to the conditions of the original lease deed. In terms of Clause 20 of the deed of conveyance, the petitioner was to fulfil all the terms and conditions laid down in the lease deed executed by the State of West Bengal in favour of the Society. Further, Clause 4 of the deed of conveyance prohibits the petitioner from transferring the said flat or any part thereof without the permission of the Society as well as the Government.

(4) Maffick Home Products Pvt. Ltd. is a company, the Managing Director whereof happens to be the son of the petitioner. The said company required business loan. By a letter dated 5th May, 2006 addressed to the Board of Directors of the said company, the petitioner recorded his consent to act as a guarantor and for use of the said flat as a collateral security for repayment of loans/cash credit facilities that the said company may obtain from any Bank.

(5) On 18th May, 2006, the petitioner signed a clarification relating to the transferability and ownership of the said flat at the behest of the respondent Bank which had agreed to advance loan to the said company.

(6) On 26th July, 2006 the Bank sanctioned credit facilities in favour of the said company for which seven persons including the petitioner gave their personal guarantees. The sanction letter stated, inter alia, that on execution of documents and after creation of security the borrower may avail all the credit facilities.

(7) On 26th July, 2006 the petitioner deposited the original deed of conveyance in respect of the said flat with the Bank.

(8) The petitioner was informed that unless permission is granted by the Government of West Bengal for mortgaging the said flat, the loan will not be disbursed by the Bank.

(9) On 31st July, 2006 the petitioner applied to the Secretary, Urban Development Department, Government of West Bengal, seeking permission to mortgage the said flat in favour of the respondent Bank.

(10) By a letter dated 3rd August, 2006 the petitioner informed the respondent Bank that he had already applied for permission to mortgage the said flat. He requested the bank to grant him time to obtain the necessary permission and not to block disbursement of the loan since the said company badly needed financial support in the form of working capital loan.

(11) On 15th September, 2006, the loan was disbursed by the respondent Bank although the Government of West Bengal had still not granted permission for creating mortgage over the said flat.

(12) By a letter said 6th November, 2006, the Land Manager and Officer on Special Duty and Dy. Secretary to the Government of West Bengal rejected the petitioner’s prayer for permission to mortgage the said flat as a col