M.M.SUNDRESH, KRISHNAN RAMASAMY
Canara Bank, Asset Recovery Management Branch – Appellant
Versus
Vasan Medical Centre (India) Pvt. Ltd. – Respondent
JUDGMENT :
M.M. SUNDRESH, J.
1. The Petitioner before us is the Bank which sanctioned a sum of Rs. 34,59,28,000 in favour of Respondents 1 to 3. The Fourth Respondent is the Mortgagor of the property in question. As there was admittedly a default in discharging the Contractual liability, the account was classified as Non-Performing Asset followed by issuance of Notice by the Petitioner under Section 13(2) of the SARFAESI Act, dated 21.07.2017.
2. Since the said amount demanded was not paid, after the expiry of the Statutory period, the symbolic possession of the property was taken by the Authorized Officer of the Petitioner on 29.5.2018 by the issuance of the possession Notice. It was accordingly published in. the two leading Newspapers one in the vernacular language and the other in English language.
3. A challenge was made by Respondents 1 to 4 in S.A. No. 180 of 2018 to the Notice issued under Section 13(4) of the SARFAESI Act. The said Petition was dismissed. Thereafter, the Petitioner invoked Section 14 of the Act by filing an Application before the Chief Metropolitan Magistrate being the Jurisdictional Authority for taking possession. In the meanwhile, Respondents 1 to 3 challeng
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