Satish K. Agnihotri, J.

1. By this petition, the Petitioner seeks to challenge the legality and validity of the notice dated 21-3-2009 (Annexure P/5) issued by the Respondent bank under the provisions of Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the Act, 2002"). Further to quash the proceedings initiated by the Respondent No. 2 i.e. District Magistrate, Raipur.

2. The indisputable facts, in nutshell, as projected by the Petitioner, are that the Petitioner is carrying on the business in the name and style of M/s. Shyam Rice & Parboiling Unit at Nevra District, Raipur. According to the Petitioner, the Petitioner applied for various loans and credit facilities from the Respondent bank. After completing the necessary formalities, the Respondent bank granted the loan benefit to the Petitioner. However, on account of restriction imposed by the Krishi Upaj Mandi Samiti, Nevra on 28-2-2009 (Annexure P/1) from carrying the business of rice mill and parboiling, the Petitioner committed certain defaults in making the payment of loan to the Respondent bank. The said fact has been brought by the Petit