The petitioner has approached this Court challenging Exts. P2 and P5 notices issued by the Secured Creditor invoking the relevant provisions under the SARFAESI Act. The case of the petitioner is that, he has already approached the Civil Court by filing O.S. 219 of 2005, for settlement of accounts and unless and until the same is finalized, no proceedings under the SARFAESI Act will lie.

2. Yet another contention raised by the petitioner is that, in response to the averments in the plaint filed before the Civil Court, the Secured Creditor has filed Ext.P1 written statement, wherein the question of maintainability of the suit is also raised stating that, the proceedings under the SARFAESI Act had been taken much prior to the institution of the suit by issuing notice under Section 13 (2) on 18.12.2004 and hence that the secured Creditor is very much entitled to proceed with such steps under the Act. During the course of the proceedings before the Civil Court, the Secured Creditor issued Ext.P5 notice under Section 13 (2) of the Act again, stating that the earlier notice and records were not traceable (in response to a petition filed by the petitioner for causing production o