V. BHAVANI SUBBAROYAN, J.

Challenging the order passed by the Debt Recovery Appellate Tribunal, Chennai, in RA(SA) 78 of 2012 dated 30.01.2017, the petitioner has filed this Writ Petition.

2. Brief facts of the case of the petitioner as averred in the Writ Petition are as follows :-

(i) The petitioner is an 83 year old lady, who stood as a guarantor to the facilities extended to his son's company viz., Space Mount Inc. Bangalore, for which, her residential property at Salem was given as a security. Since her son and daughter-in-law met with an accident and hospitalised for three months, the business failed and they could not repay the dues to the Bank as per the terms and conditions. Classifying the loan account as NPA, the respondent bank issued a notice under Section 13(2) of the SARFAESI Act demanding a sum of Rs.16,73,211.36.

(ii) The petitioner gave a proposal dated 07.11.2006 and offered to make payment of Rs.12 lakhs, but the bank vide letter dated 28.03.2007, agreed to accept, a sum of Rs.15.25 lakhs in full, and release the documents, without any stipulation of ti