BAAPAA ENGINEERS Vs. ELECTRONICS FINANCE LIMITED

JUDGEMENT

(1.) The instant Writ Petition is for an appropriate Writ, to call for the records pertaining to the impugned notice dated 23.07.2018 issued by the 1st respondent herein under Section 13(4)(a) of SARFAESI Act, 2002, demanding possession of the secured assets from the borrower/petitioner herein and to quash the same, in so far as, the said impugned notice has been issued without jurisdiction and authority of law contrary to the provisions of the SARFAESI Act and in total violation of the principles of natural justice.

(2.) The petitioner is a partnership firm constituted in the year 2000 and engaged in the business of manufacture of Jigs, Fixtures, Spm and High Precision machining components and also involved in the trading of such raw materials which is used in the manufacture of the above products.

(3.) It is stated that the petitioner, during the course of their business, came in contact with the officers working with the 1st respondent, M/s.Electronics Finance Limited, who offered to sell them an imported machinery viz. DMG Mori HSC-55 Linear -made in Germany. The petitioner states that this machinery was originally imported by one M/s.Petmoulds (P) Ltd., SP 150, Sector I, 4th Lane,First Main Road, Ambattur, Chennai, 3rd respondent herein through the seaport of Customs, Chennai, by availing customs duty exemption against Export Promotion Capital Goods (EPCG) License issued by the DGFT authorities by executing a bond or undertaking for the grant of EPCG license within a specified period as per the conditions of the said license.