STATE BANK OF INDIA Vs. CHAIRPERSON; PRESIDING OFFICER; V A PALANIKUMAR; M F RAHAMATH MUSHINA; CCS INFOTECH LTD

JUDGEMENT

(1.) This writ petition is filed seeking quashment of the order dated 30 March 2016 passed by the first respondent, viz., the Debts Recovery Appellate Tribunal, Chennai (for brevity "the Appellate Tribunal") in A.I.R. No.149 of 2016 and consequently, to empower the petitioner bank to continue with the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity "the SARFAESI Act").

(2.) 1 The facts, as posited by the petitioner are that the fourth respondent availed loan from the petitioner bank for the purpose of operating the fifth respondent company. Owing to default in repayment of loan, the petitioner bank, initiating proceedings under the SARFAESI Act, issued demand notice under Section 13(2) of the SARFAESI Act on 07 August 2014 and possession notice under Section 13(4), ibid.

(3.) We have heard the learned counsel for the petitioner and also perused the documents and pleadings appended thereto.