JUDGMENT

Harpreet Kaur Jeewan, J. - The present Civil Writ Petition has been filed challenging the notice issued by the respondent bank under section 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 (hereinafter referred to as`the Act').

2. As per facts, the petitioner-company availed financing of Rs.28.80 crore from State Bank of India. Thereafter the petitioner further availed financing of Rs.15.50 crore and Rs.9.35 crore, respectively for its both the units. In the year 2016-17, petitioner company again availed financing of Rs.38 crore from 7 banks under consortium arrangement in which lead bank is respondent No.2 Punjab National Bank. The loan account of the petitioner was declared as NPA on 31.07.2019. The respondent bank issued a demand notice dated 05.08.2019 (Annexure P-3) under Section 13 (2) of the Act raising the demand from the petitioner of its outstanding dues of Rs.48,90,08,887.90/-as on 01.07.2019. The petitioner submitted an OTS offer by it was not decided by the Respondent-Bank. However possession notice dated 15.12.2021 (Annexure P-5) under Section 13 (4) of the Act was issued.

3. The petitioner had challenged the said notice dated 15.12.2021 issued by the respondent bank under Section 13 (4) of the Act by way of filing the present writ petition alleging the lack of compliance of the provisions of the Act and further sought the relief of handing over of the possession of moveable and immovable property taken under the said proceedings.

4. In the written reply filed by the respondent-PNB, it was submitted that the petitioner-company had earlier filed CWP-25029-2021, challenging the order dated 23.11.2021, passed by the Addl. Deputy Commissioner Khanna, District Ludhiana, Punjab, against the two mortgaged properties i.e. factory land and building i.e. factory land and building measuring 70 kanal 2 marla situated at Bhattian, Sub-Tehsil Machiwara, Tehsil Samrala, District Ludhiana; and factory land and building measuring 52 kanal situated at Machiwara Raho Road, Lakhowal Kalan, Ludhiana. The said order dated 23.11.2021 was set aside by the High Court vide order dated 13.12.2021 with the liberty to the respondent-Bank to issue fresh notice under Section 13 (4) of the Act. In compliance of the said order, earlier notice dated 09.12.2019 issued under Section 13 (4) of the Act, against two mortgaged properties, was withdrawn and, therefore, fresh possessionnotice dated 24.12.2021(Annexure R3) has been issued under Section 13 (4) of the Act regarding both the aforesaid properties. The said possession notice was served through Registered Post and was also published in two leading newspapers.Thereafter the bank filed fresh application dated 30.12.2021 under Section 14 of the Act before the Addl. District Magistrate, Khanna.

5. Learned counsel for the petitioner submitted that the act of the respondent is violative of Rule 4(1), 4(2), 4(3) and 8 of the Security Interest (Enforcement) Rules, 2002. It was further submitted that the action of the respondent is also violative of Section 13 (4) of the Act, hence it is liable to be set aside.

6. On the other hand, Mr. Gaurav Goel, Advocate, appearing for the respondent-PNB, submitted that the respondent-bank had also filed an OA before DRT III, Chandigarh on 04.02.2020 for recovery of the huge outstanding on behalf of the consortium member banks. The said fact has been concealed by the petitioner. The proposal for OTS dated 10.01.2022 has already been decided on 19.01.2022 and com