SURENDRA PURSHOTTAM GONDHALI ... Vs. BANK OF BARODA &

JUDGEMENT

(1.) Draft amendment dated 13th December, 2017 forming part of the papers of the petition is granted, to be carried out immediately.

(2.) It is with the following payer that the petitioner has invoked jurisdiction of this Court under Article 226 of the Constitution.

(3.) Noticing the relevant facts from the pleadings and record of the petition, petitioner No.1 is a Partnership Firm whereas other petitioners happened to be the Partners. The petitioner is a manufacturing company which had taken financial assistance from the respondent - Bank and for that had mortgaged the property. It appears that as the petitioner could not pay the installment of the loan regularly, accounts came to be classified as Non-Performing Asset. The respondent - Bank initiated steps for recovery of the amounts invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Notice under Section 13(2) of the Act, 2002 came to be issued on 28th July, 2017.