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VIVEK RUSIA
Kotak Mahindra Bank Ltd. , Mumbai – Appellant
Versus
State of M. P. – Respondent
Petitioner has filed the present petition being aggrieved by the order dated 21-3-2016 passed by Naib Tehsildar, Dhar in Miscellaneous Application No. 6/14/SARFAESI.
2. Facts of the case are as under. That Mission Vivacare Ltd. was advanced various credit facilities by the petitioner/bank. Petitioner/bank extended the facilities of foreign bill purchase, foreign bill discounting, post shipment credit in foreign currency, overdraft facility, sales invoice finance, consortium finance, export packing credit etc. The working capital facility like export packing credit was advanced by the petitioner/bank in consortium with the sub banker like SBI, State Bank of Indore, Union Bank of India, Corporation Bank, Standard Chartered Bank, Axis Bank etc. The term loan facility was extended by the bank in consortium with SBI and State Bank of Indore.
3. In order to secure the above mentioned facilities plot Nos. 16 and 14 situated in SEZ area of Dhar were mortgaged along with certain movable fixed assets.
4. On account of default in payment of loan/debt petitioner initiated recovery proceeding in respect of the secured assets which are contemplated under section 13(2) of the SARFAESI Act.
5.
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