H.C.MISHRA, DEEPAK ROSHAN
Soni Srivastava @ Smt. Sony Srivastava – Appellant
Versus
Allahabad Bank Bokaro Steel City – Respondent
JUDGMENT :
DEEPAK ROSHAN, J.
1. The instant appeal has been preferred by the appellant writ petitioner, challenging the order date 14.1.2016, passed by the Hon'ble Single Judge in W.P. (C) No. 4219 of 2015, whereby, the writ application seeking quashing of sale notice dated 08.07.2015, auction sale dated 20.8.2015 and the letters dated 6.7.2015 and 26.8.2015 issued by the respondent Allahabad Bank, has been dismissed.
2. The brief facts of the case are that M/s Eastern India Cements Private Limited caries on business of manufacture and supply of cement. The Company approached the respondent Allahabad Bank for financial assistance and the Bank sanctioned the Cash Credit Limit of Rs. 20,00,000/- and term Loan of Rs. 2.00 crores. Subsequently, Cash Credit Limit was enhanced to Rs. 60,00,000/-. The appellant is one of the Directors of M/s Eastern India Cements Private Limited, and she is a guarantor for the loan extended to the Company by the respondent Allahabad Bank. Subsequently, the loan account was declared N.P.A. and the respondent Bank served the notice under Section 13(2) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herei
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