Judgment

I. MAHANTY, J. :- In the present writ application, the petitioners-the Mahajan brothers seek to challenge the notice under Section 13 (2) of the NPA Act issued to M/s. Chirag Alankar Pvt. Ltd. - Opposite Party No. 2 (partnership firm) under Annexure-11 to the writ application.

2. From the facts narrated in the writ g application and various documents appended thereto, it appears that M/s. Chirag Alankar Pvt. Ltd. - Opposite Party No. 2 obtained a loan from Opposite Party No. 1 – Bank, namely, State Bank of Bikaneer and Jaipur and for such purposes, Smt. Narmada Devi Patodia (Mother of the promoters of the company) created equitable mortgage by submitting title deeds of the land in question with the Opposite Party-Bank on 21-7-1999. The impugned notice under Section 13(2) of the NPA Act under Annexure-II pertains to the said land mortgaged by Smt. Narmada Devi Patodia and issued since the loanee-company defaulted in repayment of their loans.

3. Mr. S. P. Mishra, learned senior advocate appearing for the petitioners submitted that the said Narmada Devi Patodia had entered into an unregistered agreement with one Kantilal Jhunjhuwadia on 20-8-1998. i.e. allegedly prior to the mor