Facts in Brief:

1. The petitioner-Bank extended Cash Credit facility to the first respondent. Respondents 2 to 7 are the guarantors or co-borrowers. The borrowers' defaulting on dues running into crores, the Bank started recovery proceedings. Under Section 14 of the SARFAESI Act, the Bank filed C.M.P. No.3839 of 2018 before the Chief Judicial Magistrate (CJM), Thrissur. In those proceedings, the Bank also filed Ext.P3 Miscellaneous Petition praying the CJM Court to dispense with prior notice.

2. But the learned CJM has felt it desirable to put the debtors on notice and, so, passed the Ext.P4 order. Assailing that order, the Bank filed this writ petition.

3. The Bank’s counsel has submitted that the borrowers have mortgaged five items of immovable properties, besides hypothecating movable assets. According to him, the borrowers have hypothecated the entire movable assets lying in 2 to 6 immovable properties: granite and marble blocks and slabs.

4. The Bank’s counsel, placing reliance on the hypothecation agreement, contends that if the CJM’s Court issues notice, the debtors will take away all the movables before the actual attachment and physical possession could take place. S