S. Manikumar, J.

Material on record, discloses that on 16/7/2008, the respondent has availed credit facility from State Bank of India, Coimbatore. Arrears in December 2013 was stated to be 300 crores. Bank has issued Demand Notice, under Section 13 (2) of the SARFAESI Act and also possession notice, under Section 13 (4) of the Act. Thereafter, Bank has filed O.A.No.368 of 2014, on the file of the Debts Recovery Tribunal, Coimbatore, for the following prayers.

(a). to pass an order directing the defendants jointly and severally to pay to the first applicant Bank a sum of Rs.116,08,69,104.00 together with interest thereon at the rate of 14.00% p.a., with monthly rests under the Cash Credit Account No.30440299561 from the date of this Application till the date of payment in full, on or before a date to be specified and to draw a Recovery Certificate for the same.

(b). to pass an order directing the defendants jointly and severally to pay to the first applicant Bank a sum of Rs.2,56,07,699.00 together with interest thereon at the rate of 14.25% p.a., with monthly rests under the term Loan -I Account No.30449341798 from the date of this Application till the date of payment in full,