MR.JEYASINGH Vs. BRANCH MANAGER, INDIAN BANK

JUDGEMENT

(1.) Heard the Learned Counsel for the Petitioner.

(2.) To avoid an avoidable delay, notice to the Respondent/Indian Bank, Tirunelveli, is dispensed with, in the interest of justice.

(3.) According to the Petitioner, he is the sole Proprietor of M/s.J.J.Trades, which had Office at 1, SBN High Road, Tirunelveli Town. As a matter of fact, the Respondent/Bank had provided loan facility to his business Concern. The business had suffered heavy loss and the Respondent/Bank initiated proceedings for recovery of dues by filing a suit for recovery of a sum of Rs.5,53,796/-. During the pendency of the suit, a demand notice dated 27.09.2002 was issued to the Petitioner under SARFAESI Ordinance, 2002. Later, the Authorized Officer of the Respondent/Bank had issued a possession notice dated 24.03.2005. Indeed, a Writ Petition in W.P.(MD)No.4315 of 2005 filed by the Petitioner was later withdrawn.