JUDGMENT

Debangsu Basak, J. - The defendant has applied for dismissal of the suit on the ground of bar under Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002 and Section 18 of the Recovery of Debts and Bankruptcy Act, 1993.

2. Learned Advocate appearing for the defendant has submitted that, the defendant sanctioned credit facilities to M/s. Padma Steel Industries, a partnership firm of Mr. Binay Pandey who is one of the promoters of the plaintiff. The plaintiff took over the business of M/s. Padma Steel Industries along with credit facilities that M/s. Padma Steel Industries enjoyed from the defendant. There being defaults in payment of the credit facilities by the plaintiff, the defendant issued a notice under Section 13 (2) of the Act of 2002 on August 27, 2018. The plaintiff filed the present suit on August 20, 2018 and presented the plaint on September 5, 2018. The suit is therefore to be considered to be instituted as on September 5, 2018. The defendant having invoked the provisions of the Act of 2002 by the issuance of the notice under Section 13(2) of the Act of 2002, prior to the institution o