Seeking quashing of notice dated 09.12.2011 issued under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and for issuance of a writ of mandamus directing the respondent-Banks to immediately reschedule the term loan sanctioned in favour of the petitioner-Trust and for disbursement of loan of Rs. 21.44 crores, the petitioner has approached this Court by filing the present writ petition.

2. The facts narrated in the writ petition are briefly summarized thus;

The petitioner Trust was established to provide health education and health care services to all class of society. The petitioner was granted Essentiality Certificate for establishing a medical college in the name of Paritran Medical College and Hospital with intake capacity of 150 students in the college and 750 beds in the hospital. The petitioner submitted a detailed project report for taking loan from the respondent-Banks. Originally the project cost was assessed at Rs. 165.92 crores. A consortium of banks, the Punjab National Bank being the lead bank decided to provide finance, the details of which are as under:

(a) Punjab National Bank (Lead Bank