R. BANUMATHI, J.

1. This Writ Petition has been filed to declare that the award passed by the Lok Adalat on 28.8.2004 is binding on the Respondent and any action taken by the Bank in derogation of Legal Services Authorities Act is not valid and binding under any law in force including the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, "SARFAESI Act").

2. The Writ Petitioner is a Private Limited company. In the year 1990, for its business purpose, Petitioner has availed various financial facilities – (i) open cash credit facility of Rs.1,30,000/-, (ii) medium term loan to the tune of Rs.25,00,000/- and (iii) supply bills purchased facility of Rs.2,80,000/-. The Writ Petitioner failed to pay the amounts and committed default in repaying the amount due. The loan accounts have been classified as Non-Performing Asset since 31.3.1997. Originally, the claim was filed in 1998 in O.A.No.1706 of 1998 before the Debt Recovery Tribunal-I, Chennai, which was later transferred to Debt Recovery Tribunal-II, Chennai in O.A.No.1405 of 2001. Debt Recovery Tribunal-II passed the order on 1.4.2002 in O.A.No.1405 of 2001 directi