1.The present writ petition has been filed with following prayers;

“(i) Issue a writ of mandamus and/or other writ directions or orders commanding the 1st respondent to invoke Rule 8 (5) (d) of Security Interest Rules as requested in Ext.P4 representation to sell the property mentioned therein, by way of private treaty., (ii) issue a writ of mandamus and/or other writ directions or orders commanding the 1st respondent to defer the taking actual possession of secured assets in pursuance of Ext.P3 notice., (iii) issue a writ of mandamus and/or other writ directions or orders commanding the 1st respondent to accord breathing time in case it invokes Rule 8 (5) (d) of Security Interest Rules., (iv) issue a writ of mandamus and/or other writ directions or orders commanding the 1st respondent, in the event of sale not taking place, twelve months time shall be given to petitioner to settle the liability. ,and (v) issue such other writs directions or orders as are deemed just and necessary in the interest of justice”.

2.The petitioner has obtained business loan from the respondent Bank and has committed default in making payments of the loan amount. The petitioner's loan account was