ORDER:

(Per the Hon’ble the Chief Justice Alok Aradhe)

Mr. M.V.Pratap Kumar, learned counsel representing Mr. Naren Sai.C, learned counsel for the petitioners.

Mr. Gadi Praveen Kumar, learned Deputy Solicitor General of India for the respondent No.1.

Mr. Manav Gecil Thomas, learned counsel for the respondents No.2 to 4.

2. In this writ petition, the petitioners have assailed the validity of the impugned notice dated 12.11.2024 issued by the Canara Bank (hereinafter referred to as, “the bank”) under Section 13(8) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as, “the SARFAESI Act”).

3. Facts leading to filing of this petition briefly stated are that the petitioner No.1 is a partnership firm which is engaged in the business of undertaking civil contract works, real estate and construction works. The petitioners had obtained loan from the bank for an amount of Rs.15,00,00,000/-. The petitioners had provided collateral security by mortgaging six immovable assets situated at Nellore and Hyderabad in favour of the bank. After the onset of COVID-19 pandemic, an additional amount of loan to the tune of Rs.1,50