JUDGMENT

Avneesh Jhingan, J. - The present writ petition has been filed seeking quashing of notice dated 07.02.2017 (Annexure P-10) issued under section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity, 'the Act') and auction notice dated 09.11.2017 (Annexure P-11).

2. The petitioner No.1 is a proprietorship concern and petitioner No.2 is the proprietor. Canara Bank, Rejangala Chowk, Sighana Road, Narnaul has been arrayed as respondent in the present writ petition.

3. The petitioners availed a cash credit limit to the tune of Rs. 10 lakhs from the respondent-bank. The said limit was enhanced to Rs. 30 lakhs. In order to secure the credit facility, the property consisting of 10/284 share in agriculture land bearing Khewat No.27, Khatoni No.27, Mustetil and Killa Nos.50//16/2/(6-4), 17(8-0); Kitats 2 area measuring 14 Kanal 4 Marla wherein share in the land comes to 10 Marla situated in the revenue estate of village Nasibpur, Tehsil Narnaul was mortgaged with the bank.

4. The petitioners were not able to maintain the financial discipline, hence, the account was classified as Non Performing Asset (NPA) on 29.