S.MANIKUMAR, SUBRAMONIUM PRASAD
R. PREMALATHA – Appellant
Versus
STATE BANK OF INDIA – Respondent
S Manikumar, J.
Borrower who has committed default and aggrieved by the measures under Section 13(4) of the SARFAESI Act, 2002 and the consequential sale notice dated 24.04.2018 issued by the State Bank of India, represented by its Authorized Officer, Coimbatore, who has brought the secured assets for auction, has filed the instant writ petition, challenging the demand notice dated 29.11.2016 issued under Section 13(2) of the SARFAESI Act, 2002 dated 14.03.2017, notice issued under Section 13(4) of the Act and the consequential sale notice dated 24.04.2018, and sought for a writ of certiorari, to quash the same.
2. Brief facts summarised from the supporting affidavit and material available on record are that in the year 2013, State Bank of Patiala, Tiruppur, granted financial assistance of Rs.2.5 Crores to the borrower M/s.Rakshana Cotton Mills, represented by its Proprietrix Mrs.R.Premalatha, Thyennampalayam, Tiruppur. Financial assistance was secured by the personal guarantee of Mr.M.Ravichandran and Mrs.B.Saraswathi, guarantors, whose properties have been offered a
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