JUDGMENT :

SABYASACHI BHATTACHARYYA, J.

1. A sanction was granted for credit facility in favour of the petitioner for an amount of Rs. 200 lakh by the respondent no. 1-Bank. On November 22, 2018, there was a modification/ renewal of the Sanction Letter dated June 8, 2010, which, inter-alia, scaled down the existing limit of Rs. 9.90 crore to a proposed limit of Rs. 6.25 crore.

2. On February 23, 2019, a letter was issued by the Bank for modification of the Sanction Letter dated November 22, 2018 for the limited purpose of including a corporate guarantee given by the Metro Niketan Private Limited.

3. On September 19, 2020, the Bank issued to the petitioner and to its guaranteers and mortgagors/corporate guarantors notices under Section 13(2) of the SARFAESI Act, 2002, to which the borrower issued an objection under Section 13(3A) on November 20, 2020. Reply was given by the Bank to the said objection on December 2, 2020.

4. On January 13, 2021, a possession notice under Rule 8(1) of the Security Interest (Enforcement) Rules, 2020, read with Section 13(4) of the SARFAESI Act, was issued by the respondent no. 1-Bank for taking symbolic possession of the secured property.

5. On January 14, 2