R.K. Merathia, J.

1. Petitioner has chal lenged the notice dated 20.7.2006 issued under Section 13(2) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. 2002 (the Act for short). Mr. Sunil Kumar Sinha, appearing for the petitioner submitted that the respondent-Bank has not disposed of petitioners objection filed on 24.9.2006 against the said notice. He relied on para graph 80 of the judgment . Mardia Chemicals Ltd. and Ors. v. Union of India and Ors. and etc.

2. Mr. Rajan Raj, appearing for respondent-Bank, referring to materials brought on the record submitted as follows:

The proprietor of M/s Bharti Enterprises (petitioner) has availed loan from Bihar State Financial Corporation (B.S.F.C.) against the mortgage of its unit and was later declared defaulter. Ultimately the said unit was sold in auction by B.S.F.C. Mrs. Mithu Mohanti purchased it vide Sale Order No. N-45 dated 23.2.2000, but she did not pay the full purchase amount and still owes a heavy amount to B.S.F.C. Even then the petitioner Mr. Subhash Mohanti, proprietor of M/s Bharti Enterprises availed loan from the respondent-Bank, mortgaging-the Plant and Machinery and othe