JUDGMENT :

Senthilkumar Ramamoorthy, J.

(Prayer: Petition filed under Article 226 of the Constitution of India, praying to issue a writ of declaration declaring the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 especially the provisions under Section 18(1) of the Act and the second proviso thereunder as unconstitutional and void ab initio and consequently direct the second Respondent to refund the payment of Rs.1.51 lakhs already paid as pre-deposit to the second Respondent vide Indian Bank DD No.992927 dated 21.01.2020 drawn in favour of the Registrar, DRAT, Chennai within a time frame as may be fixed by this Court.)

1. The Petitioner is admittedly a guarantor of his brother-in-law, Mr.P.K.Selvaraj, who availed credit facilities, including overdraft facilities, from the Indian Bank, the 6th Respondent herein. As security for such credit facilities, the Petitioner admittedly mortgaged the property at New S.F. No.47/5A, Plot No.23, Old Door No.4/A/23, New Door No.5/14 NGGO's Colony, Chinnamudalaipatti Village, Namakkal Taluk and District, admeasuring about 2400 sq.ft. The Petitioner states that, upon default by th