S. K. Gangele J. :

” This petition has been filed against the order passed by the Debts Recovery Appellate Tribunal, Camp at Jabalpur in Appeal No. 133/2011. The Appellate Tribunal has dismissed the appeal and affirmed the order passed by the Debts Recovery Tribunal. The question for consideration in the petition before this Court is interpretation of Rule 8 (2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred as to ' the Act' ).

2. The respondent No.1 had a credit (Hypothecation) and Bank Guarantee account with the petitioner bank. His account was classified as Non Performing Assets (NPA). The proceeding was initiated against respondent No.1 under the Act. A demand notice was issued to the respondent on 3.9.2007 under Section 13 (2) of the Act. Thereafter, a notice dated 21.11.2007 was issued by the bank for taking possession of the secured assets. In terms of notice the possession of secured assets had been taken on 7.12.2007. The possession notice was published in the newspaper in accordance with the Rules of the Act, as claimed by the bank.

3. The petitioner Bank published a notice in the