ORDER :

This matter is taken up through Hybrid arrangement (video conferencing/physical mode).

2. Mr. R.P. Kar, learned Senior Advocate files his appearance memo, which is taken on record.

3. Mr. D.K. Mohapatra, learned counsel and his associates files power for the State Bank of India, which is also taken on record.

4. This writ petition has been filed by the petitioners with the following prayer:

I. Quashing the action of classification of loan account as NPA by opp. party no.3 vide letter dated 02.05.2025;

II. Setting aside the SARFAESI recovery proceedings initiated under section 13 of the SARFAESI Act by State Bank of India against the petitioner through a demand notice issued on 29.05.2025 under section 13(2) of the said Act;

III. Declaring that the petitioner being an MSME within the meaning of sections 7 and 8 of the MSMED Act , 2006, it is entitled to the benefits of the said Act and, in particularly, the notification S.O.1432(E) dated 29.05.2015 issued by the opp. party no.8 under section 9 of the Act which provides for a mechanism of resolution of stress of MSMEs, as also, the circulars and guidelines;

IV. Directing the opp. parties Bank authorities to follow the prescribed fram