1. This petition is filed by M/s. Arjun Motors Pvt. Ltd. to set aside the order dated 20-3-2003 passed in C.Misc. No. 240/2002 on the file of the Spl. JMFC (Sales Tax) rejecting his objection in the said case.

2. The respondent No. 2 herein was an assessee and he was due in a sum of Rupees Twenty Lakhs towards sales tax and CST. Since respondent No. 2 has not paid the arrears of tax, the respondent No. 1 filed an application under S.13 (b) of the KST Act for recovery of Rs. 20 Lakhs from respondent No. 2. When the matter was pending before the Special JMFC (Sales Tax), Bangalore, the petitioner herein appeared as an objector and resisted the recovery proceedings against respondent No. 2. The contention taken by the petitioner in this revision petition is that the respondent No. 2 raised a loan from ICICI Bank. On being unable to repay the said loan to the bank, the bank issued a demand notice dated 23-11-2002 under S.13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein referred to as the "Securitisation Act") and a public notice has been issued about taking over possession of the property of respondent as per Ann