JUDGMENT

(Prayer: Writ Petition filed under Article 226 of the Constitution of India seeking a Writ of Certiorarified Mandamus, to call for the records in order, dated 31.05.2023 made in T.S.A.No.35 of 2023 (Old S.A.No.145 of 2022) on the file of the Debts Recovery Tribunal-II, Chennai, the first respondent herein and quash the same and direct the 2nd respondent to return the title deeds by closing the loan account.)

D. Bharatha Chakravarthy, J.

1. The brief facts leading to the filing of this Writ Petition are that the writ petitioners are engaged in the business of manufacturing, exporting and supplying massive assemblage of Industrial Separators and Magnetic Equipment. For their business purpose, they had availed Cash Credit facility to a tune of Rs.1,82,24,183/-, Common COVID - 19 Emergency Credit Line facility to a tune of Rs.10,25,369/- and Guaranteed Emergency Credit Line to a tune of Rs.36,96,715/-, in all totaling to Rs.2,30,45,715/-. In view of default in repayment, the account was classified as Non-Performing Asset (NPA) with effect from 30.09.2021.

2. A notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Intere