(1.) While W.P.No. 950 of 2012 has been filed by the borrower against whom action has been taken as per the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity, "the SARFAESI Act") for recovery - by giving demand notice under Section 13(2) of the SARFAESI Act; possession notice under Section 13(4) of the SARFAESI Act; and obtaining an order of assistance from the learned Chief Judicial Magistrate under Section 14 of the SARFAESI Act appointing an Advocate Commissioner to take possession with the help of the police, challenging the said Section 14 of the SARFAESI Act as ultra vires, the same borrower has filed W.P.No. 30223 of 2011 challenging an order dated 16.8.2011 in Crl.M.P.No. 946 of 2011 passed by the learned Chief Judicial Magistrate, Salem under Section 14 of the SARFAESI Act, as stated above, as one passed without application of mind and in violation of the principles of natural justice and, hence, arbitrary and illegal.
(2.) The petitioner in the said writ petitions (W.P. Nos. 950 of 2012 and 30223 of 2011) has availed from the second respondent/bank, on 31.1.2005, a housing loan to the extent of 8,82,000/- and, on 23.7.2008, a cash credit loan to the extent of 20,00,000/-, in respect of which the outstanding as on 1.3.2011 under the cash credit loan facility was 21, 58, 531.40 and the housing loan outstanding as on 19.3.2011 was arrived at 7, 28, 644.42. As regards the recovery of the said amount, the second respondent/bank has issued a demand notice under Section 13(2) of the SARFAESI Act on 2.9.2009 and since the amount has not been paid, possession notice was issued under Section 13(4) of the SARFAESI Act on 5.4.2011 for the claim of 28, 97, 725.91.
(3.) W.P. Nos. 30184 of 2011, 104 and 105 of 2012 have been filed by the petitioners who are stated to be tenants of various residential portions in respect of which the respective landlords have borrowed amounts from the bank or stood as guarantor to the third party/borrowers and the bank while enforcing their rights under the SARFAESI Act, after giving demand notice under Section 13(2) of the SARFAESI Act to the borrowers (or) guarantors, who have been made as second respondent in these writ petitions, followed by possession notice under Section 13(4) of the SARFAESI Act, have obtained an order of assistance from the learned Chief Judicial Magistrate concerned under Section 14 of the SARFAESI Act appointing an Advocate Commissioner to take possession.
ABOUT US "REGENT COMPUTRONICS PVT. LTD." is a Company incorporated in 1991 under the provisions of the Companies Act, 1956. Since its inception to 1995, the Company was busy in carrying out the activities related to various Banks' Job Work..
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