JUDGMENT

[VIA VIDEO CONFERENCING]

Amit Bansal, J. (Oral)

1. The present petition under Article 227 of the Constitution of India impugns the auction notice dated 1st September, 2021 and consequential proceedings emanating therefrom under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

2. Brief facts leading up to the filing of the present petition are that the petitioner no.1 (petitioner company), of which petitioners no. 2 to 4 are directors, availed various credit facilities from the respondent bank. To avail such credit facilities, the petitioner company had mortgaged 12 properties with the respondent bank. On 31st March, 2018, the account of the petitioner company was declared to be Non Performing Asset (NPA) and a demand notice dated 5th May, 2018 was issued to the petitioners by the respondent bank under Secti