ARUNA DTS MOORTHY Vs. UCO BANK

JUDGEMENT

(1.) Heard Shri Sanyal, learned counsel for the petitioners, Sau Supriya Puntambekar, learned counsel for respondent No.1 and Shri Deopujari, learned counsel holding for Shri Aurangabadkar, learned A.S.G.I. for respondent No.2.

(2.) Rule. Rule made returnable forthwith. Heard finally by consent of the learned counsel appearing for the parties.

(3.) The petitioner, Director of petitioner No.2/Company has been aggrieved by the notice issued under Section 32 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "SARFAESI Act"), whereby two mortgaged properties creating security interest in favour of respondent No.1/Bank towards repayment of loan granted to petitioner No.2/Company have been put on auction sale.