Petitioners are before this Court being aggrieved of steps taken by the respondent Bank, invoking the machinery under the SARFAESI Act for causing the property concerned, over which security interest is created, to be taken possession and sold in auction, to realize the amount stated as due under a loan transaction. The route cause is with reference to non-satisfaction of timely installments.

2. The facts and events as narrated in the writ petition shows that the petitioners are engaged in the business of ceramic and sanitary wares for more than 1 = decade. A loan was sought for and obtained from the respondent Bank to the tune of Rs.1.32 crores in the year 2011 and repayment was being effected @ Rs. 1.72 lakhs per month. The tenure of the loan is to come to an end by the end of the year 2022. In the course of business, there occurred some failure on the part of the petitioners in remitting some installments, when the Bank proceeded with further steps under the SARFAESI Act issuing Ext. P1 notice.

3. The petitioners took all earnest efforts to clear out the overdue amount, but because of coercive steps, the petitioners approached this Court by filing W.P.(C) No. 5702 of 2012,