Antony Dominic, J.

1. The question that arises for consideration in this writ petition is whether the 1st respondent was justified in declaring the accounts of the petitioners to be Non-Performing Assets (NPA for short).

2. The facts of the case are that petitioners 1 to 3 herein, who are conducting textile business, had availed of from the 1st respondent cash credit facilities for Rs.56 lakhs, Rs.10 lakhs and Rs. 23 lakhs respectively. In so far as the 4th petitioner is concerned she had availed of a house building loan for Rs.12 lakhs. As security for the above, petitioners had offered a commercial building in Angamali Town situated in a plot of 6 cents of land. In addition to this two plots having an extent of 35 cents and 25 cents each with building therein, were also given. According to the petitioners these properties are worth at least Rs.8 crores.

3. Petitioners would submit that in 2001, on account of certain misunderstanding between the Branch Manager of the Bank and themselves, the Bank refused to renew the cash credit facility and caused a lawyer notice issued to them requiring them to repay the entire amount availed of. It is pointed out that thereafter invoking t