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2008 Supreme(Mad) 2380

K.VENKATARAMAN
Irene Isabella – Appellant
Versus
The Authorised Officer, State Bank of India – Respondent


Advocates appeared:
For the Petitioner:T.R. Rajagopalan, Senior Counsel, Ananda Gomathi Sivakumar, Advocate.
For the Respondent:R2, K. Sankaran, Advocate.

Judgment :-

The present writ petition has been filed for declaration declaring the possession notice dated 22.08.2007 and the sale notice published on 111. 2007 in the daily Indian Express on the file of the first respondent is ultra vires, unconstitutional and illegal.

2. The case of the petitioner in nutshell is set out here under:-

.(a) The petitioner stood as a guarantor for the facilities availed by one M/s.Hotel Sri Navayuga and she has also mortgaged her property as a collateral security towards the loan availed by the said borrower. However, as the account had turned to NPA, the first respondent had issued a demand notice dated 09.07.2003 under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein after referred to as SARFAESI Act). Subsequent to the said notice, the respondent Bank had filed a suit in O.S.No.108 of 2004 on the file of the learned District Judge, Nilgiris. A preliminary decree was passed in the said suit on 111. 2005 directing the petitioner to pay the decretal amount with interest.

.(b) Much later to the issuance of the demand notice, under Section 13 (2) of the SARFAESI Act, th
































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