ORDER

1. Petitioner, a corporate entity and also a loanee, is before this Court with the grievance that despite revised proposal for One Time Settlement (for brevity 'OTS') pending consideration before the respondent/Punjab & Sind Bank vide Annexure P-11 dated 14.9.2021 that respondents have initiated proceedings under section 13(2) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity 'SARFAESI Act') followed by possession notice dated 7.10.2021/P-12 and sale-notice dated 21.10.2021/P-13. Therefore, until & unless the respondents/Bank finalizes the revised notice proposal, no such proceedings could be initiated under SARFAESI Act.

2. Upon careful perusal of the documents referred to, it appears that alleged revised proposal is dated 14.09.2021 whereas the proceedings under section 13(2) of SARFAESI Act were already initiated on 16.12.2020. Hence, the factual adumbration during course of arguments is not fully correct.

3. Be that as it may.

4. It is the settled law that proceedings once initiated under section 13(2) of SARFAESI Act, this Court under Article 226 of Constitution of India refrains itself from interfering in the p