D.KRISHNAKUMAR
Central Bank of India, Regional Office, Madurai – Appellant
Versus
Gomathiammal – Respondent
Mr. D. Krishnakumar, J.
The civil revision petition arises against the fair and exorders dated 28.03.2011 passed in I.A.No.739/2010 in O.S.No. 14/2010 on the file of the Additional District Munsif Court, Ambasamuthram.
2. The revision petitioners being the Central Bank of India, who are the Creditors, are the defendants in the suit. The respondent herein filed the suit in O.S.No.14 of 2010 before the learned Additional District Munsif, Ambasamudram, to declare the sale proceedings of the Bank as null and void. The respondent herein stood as a guarantor for the loan availed by the borrower M/s. Marvelous Marketing and she mortgaged her property. Since the borrower has not repaid the loan, the bank issued demand notice dated 23.07.2007 under Section 13(2) of SARFAESI Act. Even then, the borrower has not repaid the loan amount of Rs. 2,90,000/-. Therefore, the Bank has taken symbolic possession of the property and issued possession notice dated 28.02.2008. Even after the said possession notice, the borrower has not repaid the loan amount and hence, the bank has issued sale notice which was published in the newspaper on 01.11.2008, by fixing the sale on 09.12.2008.
3. After issuanc
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