JUDGMENT :

Bhargav D. Karia, J.

1. Heard learned advocate Mr. Sandip Bhatt for the petitioners and learned advocate Ms. Nalini Lodha for the respondent Bank of Baroda through video conference.

2. By this petition under Article 226 of the Constitution of India, petitioners have prayed for the following prayers:

"a. YOUR LORDSHIP may allow this writ petition by issuing the writ of Certiorari of writ of Mandamus and/or any other appropriate writ/direction or order and quash and set aside the impugned notice dated 24.01.2022 (Annexure "P/1") issued by Respondent bank under the provisions of the SARFAESI Act, 2002.

b. YOUR LORDSHIP may allow this writ petition by issuing the writ of Certiorari and/or any other appropriate writ/direction or order and direction for quashing and setting aside the impugned notice dated 24.02.2020 issued under section 13(2) of the Act, 2002 by respondent bank (Annexure "P/2") as being arbitrary, unjust, unreasonable and discriminatory, in the interest of justice and equity;

c. To stay pending the hearing and final disposal of the present Special Civil Application, the implementation and/or execution of impugned notice dated 24.01.2022 issued by bank and order dated 03.07.2021 passed by the Ld. DM. Gandhinagar under section 14 of the Act, 2002 and further be pleased to direct the respondent bank to maintain status-quo qua to the property being North Side Of Na Land On Block/Survey No. 604 Paiki, Adm. 5573.80 Sq. Mtrs., Open Land With Construction Thereon Adm. 1298 Sq. Mtrs., Located At Mansa, Dist. Gandhinagar till the SA No. 58/2021 being heard and decided by Ld. DRT-I Ahmedabad;

d. this Hon'ble Court may be pleased to pass any other order or directions as it may deem fit in the facts and circumstances of the present case;"

3. It is the case of the petitioners that the petitioner No. 1 has availed the financial assistance from the respondent Bank of Baroda comprising of Cash Credit Facility of Rs. 210 Lakh and term loan of Rs. 60 Lakh in the year 2019. As the petitioner No. 1 could not pay the outstanding dues of the respondent Bank, the accounts of the petitioners were declared as Non Performing Assets (NPA).

3.1. The respondent Bank issued a notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "the SARFAESI Act, 2002") on 24th January, 2022.

3.2. The respondent Bank has also issued a possession notice dated 19th August, 2020. The petitioners thereafter, preferred Securitisation Application No. 58 of 2021 before the Debt Recovery Tribunal-I, at Ahmedabad (for short "the DRT-I") with a prayer to quash and set aside the notice issued by the respondent Bank and further to restrain the respondent Bank from taking possession of the mortgaged property of the petitioners.

3.3. The DRT-I passed the following order on 20th December, 2021:

"Mr. S.C. Bhatt, ld. Counsel for the Applicants and Ms. Nalini Lodha, Ld. Counsel for the Respondent Bank appeared.

Today this matter has come up for hearing on the pursis filed by the Ld. Counsel for the Applicants.

Ld. Counsel for the Respondent Bank fairly conceded that till date no specific date has been fixed for taking possession of the property in question and this fact has already been observed in order dated 22.11.2021. Also the Respondent Bank was directed to serve seven days prior intimation to the Applicants before taking possession of the property in question. As such today there is no urgency.

In view of above, list the matter for hearing on 19.01.2022."

3.4. It is the case of the petitioners that thereafter, the matter was posted for further hearing on 21st February, 2022 due to non-availability of the Presiding Officer in DRT-I, Ahmedabad. The respondent Bank has issued a letter dated 24th January, 2022 giving 7 days' prior intimation for taking physical possession of the assets in compliance with the directions given by the DRT-I vide order dated 20th December, 2021 passed in SA No.