Advocates:
['M/S PRAFULLA KU RATH', '', 'P K SAHOO', 'A K BEHERA', 'A K ROUT', 'S K BEHERA', 'S K PATTNAIK', 'B K DASH', 'R N PARIJA', 'R N DASH', 'S K SINGH', 'A BEHERA', 'M/S N K DASH', 'G N MISHRA', 'N K SETHY', 'D PANDA']

WPC No.9327 of 2016

07.9.2017

Heard learned counsel for the parties.

This writ petition has been filed challenging the notice dated 29.02.2016 (Annexure-1)

, issued by the opposite parties-Bank under Section 13(2) of the SARFAESI Act and the subseque

nt response/reply of the Bank dated 17.5.2016 (Annexure 1/A), under which the representation o

f the petitioners with regard to the demand raised by the Bank has been rejected.

Learned counsel for the petitioners submits that the notice issued by the opposite par

ties-Bank under Section 13(2) of the SARFAESI Act is not valid and in accordance with law, as

the same has been issued not by the Bank but by its Advocate. It is further submitted that the

letter issued by the Bank dated 17.5.2016 (Annexure 1/A) rejecting the representation of the

petitioners with regard to the levy of floating rate of interest is not proper and justified i

n as much as, the same is in violation of the guidelines prescribed by the Reserve Bank of Ind

ia.

Learned counsel for the opposite parties-Bank submits that the notice under Section 13

(2) of the SARFAESI Act has been issued by the Bank through its Advocate, to intima