M/S. S.P. POLYMERS Vs. REGISTRAR

JUDGEMENT

(1.) The above Writ Petition has been filed by the petitioner to issue Writ of certiorari to call for the records of the 1st respondent relating to the order dated 08.09.2015 passed in R.A.(SA).No.85 of 2012 and to quash the same.

(2.) It is the case of the petitioner that they availed loan from the 2nd respondent - Bank in the year 1999. Thereafter, since the loan was not repaid, the petitioner's account was declared as NPA and the 2nd respondent filed O.A.No.96 of 2002 before the Debts Recovery Tribunal, Coimbatore for recovery of a sum of Rs. 12,80,645.25. In the meanwhile, the 2nd respondent - Bank initiated proceedings under SARFAESI Act issuing a demand notice dated 08.12007 under Sec. 13(2) of the SARFAESI Act. Thereafter,

(3.) It is the case of the petitioner that the 2nd respondent - Bank did not inform this Court about the issuance of the Sale Certificate on 29.07.2010 when the Civil Revision Petition was taken up for hearing. After the disposal of the Civil Revision Petition, the Debts Recovery Tribunal, by order dated 14.02012, directed the petitioner to deposit a sum of Rs. 48.50 lakhs before the Tribunal along with interest at the rate of 12% per annum as a condition precedent for hearing the statutory appeal preferred by the petitioner. On