JUDGMENT

(Dated this the 23rd day of February, 2026)

The petitioner, a Co-operative Society registered under the Kerala Co-operative Societies Act , 1969, engaged in banking activities. The 2^nd petitioner is the Administrative Committee appointed by the 3^rd respondent. The bank has availed loan from the 4^th respondent after creating security interest over the property of the 1^st petitioner having an extent of 6.05 Ares comprised in Re-survey Nos.415/25/1 and 415/25/3 in Block No.11 in Angamaly Village, Aluva Taluk, Ernakulam District.

2. The loans availed are cash credit, project loan SOC and ordinary loan. Though there was considerable remittance of the loan, default occurred, thereby the 4^th respondent classified the account as NPA and proceedings were initiated against the petitioner under the SARFAESI Act . The petitioner Society has been taking steps for recovery of the dues from the defaulters by filing of 309 Arbitration Reference cases before the Assistant Registrar (General) for recovery of the loan amount, and 33 execution proceedings are pending before the civil court.

3. While so, the petitioner received Section 13 (2)

notices, i.e., Ext.P2 series, from the 5^th respon