1. When this writ petition is taken up for hearing, learned counsel appearing on behalf of the petitioner submitted that he does not press the prayer for quashing of notice dated 16.7.2011 issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter to be referred as the SARFAESI Act or the said Act).

2. The main grievance of the petitioner is that the respondent Bank issued possession notice dated 20.9.2011 (Annexure-8) and has taken possession of the mortgage property under Section 13(4) of the said Act without passing any orders on the petitioner's objection filed under Section 13(3-A) of the said Act.

3. According to the petitioner, the company is engaged in the business of manufacturing and processing of coal into coke. In the year 2004 one M/s Dudani Fuels Pvt. Ltd, Dhanbad applied for certain credit facilities from the respondent-Bank. The petitioner had stood as a guarantor by extending Equitable Mortgage of its land, building, plant and machinary. Due to poor market conditions, the principal borrower requested the respondent – Bank to enhance and review the credit facilities which w