O R D E R

08.11.2021 Sujoy Paul,J.

This petition is filed by the petitioners (borrower) questioning the judgment dated 14.09.2021 (Annexure P/21) passed by the Debt Recovery Appellate Tribunal (DRAT), whereby the order passed by the Debt Recovery Tribunal (DRT), Jabalpur is set aside.

2. Briefly stated, the case of the petitioners is that the petitioner no.1 is a company and the petitioner no.2 to 7 are Directors/Personal Guarantors for the petitioner no.1/Company, whereas petitioner nos.8 to 10 are Corporate Guarantors of petitioner no.1/company.

3. Indisputably, on different occasions, sanction letters were issued sanctioning credit limits i in favor of petitioner no.1. On 28.10.2015, authorised accounts of petitioner no.1 were declared as non- performing asset (NPA) and consequently on 29.08.2016 a demand notice under section 13(2) of The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 (SARFAESI Act) was issued by respondent no.1/bank as a leader of consortium of banks. Another demand notice under section 13(2) of SARFAESI Act was issued on 11.07.2016 by respondent no.2/bank which are filed as (Annexure P/3 and P/4) respectively.