Soumen Sen, J. —This application is at the instance of the defendant Bank for rejection and or dismissal of the plaint on the ground that the suit is barred under Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act).

2. The plaintiff has instituted the suit on 18th December, 2013 praying, inter alia, for a declaration that the classification of the account of the plaintiff borrower in the cash credit account maintained with the bank as non-performing asset is bad and all measures taken on the basis of such classification is invalid and unforeseeable.

3. The plaintiff is a constituent of the defendant bank. The plaintiff availed cash credit facility to the tune of Rs.4.50 crores in terms of a letter of sanction dated 25th June, 2007. The account was classified as non-performing asset on 8th July, 2013. According to the defendant such classification was made following the Reserve Bank guidelines. The defendant had issued a notice under Section 13(2) of the SARFAESI Act followed by measures taken under Section 13 (4) of the SARFAESI Act.

4. The possession notice was iss