JUDGMENT

M.S. Ramachandra Rao, J. - Background facts Petitioner No.1 is a company incorporated under the Companies Act, 2013. Certain credit facilities were offered to the petitioner by the Canara Bank (respondents No.1 and 2). The loan account of the petitioner was declared as Non Performing Asset (NPA) on 30.09.2016 by the respondent-Bank, and it issued on 19.01.2017, a notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as 'the Act') claiming Rs. 26,91,23,862.81 as on 31.12.2016. Though the petitioner filed objections under Section 13(3A) of the Act on 23.03.2017 requesting the respondent-Bank for rehabilitation instead of initiating coercive action, the same was not accepted by the respondent-Bank on 07.04.2017.

2. Thereafter on 22.06.2017, the respondent-Bank issued notice under Section 13(4) of the Act taking symbolic possession of the mortgaged properties.

3. It also obtained on 25.10.2017 an order under Section 14 of the Act from the District Magistrate, Faridabad to take physical possession of the mortgaged properties.

4. Certain OTS proposals were made by the petitioner