J U D G M E N T

~ ~ ~ ~ ~ ~ ~ ~ ~

The petitioners, who are appellants in unnumbered appeal before the Debts Recovery Appellate Tribunal, Chennai, filed this OP(DRT) seeking to set aside Ext.P11 proceedings in which Ext.P5 appeal filed against Ext.P2 order dated 19.06.2023 in SA No.480/2022 of the Debts Recovery Tribunal-I, Ernakulam is rejected and declined.

2. The 1st petitioner-Firm availed a loan of ₹2,80,00,000/- in the year 2016 from the 1st respondent- Finance Company. When the repayment fell into arrears, the 1st respondent assigned the debt to the 2nd respondent. The

1st respondent had classified the loan as NPA in the year 2019 and had issued demand notice under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 requiring the petitioners to repay ₹2,47,24,895/-.

3. The petitioners state that the respondents invoked Section 14 of the Act, 2002 and the Additional Chief Judicial Magistrate's Court, Ernakulam appointed Advocate Commissioner. The petitioners challenged Section 14 proceedings in the Debts Recovery Tribunal-I, Ernakulam filing SA No.480/2022. The SA filed by the petitioners was dismissed by the D