ORDER :

(R. Mahadevan, J.)

(Prayer: Petition filed under Article 226 of the Constitution of India, to issue a writ of certiorarified mandamus calling for the records relating to the order dated 22.04.2022 of the Chief Judicial Magistrate in Crl.M.P.No.1053 of 2022, quash the same and consequently direct the respondent – Bank to extent OTS Scheme sanctioned on 25.01.2022 in SAMB/MDU/VK/512.)

Challenge in this writ petition is to the order dated 22.04.2022, passed in Crl.M.P.No.1053 of 2022, by the learned Chief Judicial Magistrate, Sivagangai, ordering to take possession of the secured asset, with a direction to the respondent – Bank to extend the scheme of one time settlement, which was sanctioned on 25.01.2022, to the petitioners.

2. Though there is an availability of expeditious and effective remedies under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, “the SARFAESI Act”), this writ petition has been filed, since the Debts Recovery Tribunal, Madurai, is not functional.

3. Before going into the issue raised in this writ petition, we deem it fit to consider the relevant provisions under the SARFAESI Act and the decisi