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2022 Supreme(Ker) 280

BECHU KURIAN THOMAS
E. K. RAJAN S/O KRISHNANKUTTY – Appellant
Versus
AUTHORIZED OFFICER, CANARA BANK, ERNAKULAM – Respondent


Advocates:
Advocate Appeared:
For the Petitioner: N. SASI.
For the Respondents: G. LEKHA, P.J. FLONY, S. AMBILY, UMA G. KRISHNAN, SAJU N.A.

JUDGMENT :

BECHU KURIAN THOMAS, J.

1. Petitioner challenges a sale notice issued under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act').

2. Petitioner is conducting a business establishment by name M/s Scientific Alfa. He had availed a cash credit facility of Rs.3,00,00,000/- in the year 2015 from the respondent and a security intrest was created over his property of 6.57 Ares and a residential building. Due to default in repayment, the loan account was declared as NPA and a notice under section 13(2) of the Act was issued on 23.01.2018. Subsequently, possession of the property was taken over under section 13(4) of the Act on 01.09.2018. According to the petitioner, without considering the genuine attempts of the petitioner to clear the loan, the respondent proceeded to initiate steps under the Act and published a notice of sale dated 19.11.2021 in the Mathrubhumi daily proposing to auction the property on 08.12.2021. Petitioner further contended that the sale notice was not issued to the petitioner till the date of filing of this writ petition and instead, petitioner requested the responde

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