DOMBIVLI UROLOGY CENTRE Vs. RUPEE COOPERATIVE BANK LTD

JUDGEMENT

(1.) This petition is filed by Dr. (Mrs.) Rajul Ketan Rajpopat, Proprietress of Dombivli Urology Centre (for short, "the said Centre"). In this petition, there is a challenge to notice dated 26/10/2006 issued by respondent 1 bank under sec. 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, "the NPA Act").

(2.) Admittedly, on 7/8/1996, the petitioner applied for term loan of Rs.62 lakhs and cash credit facility of Rs.10 lakhs to respondent 1bank.

(3.) On 16/5/2006, respondent 1bank served its notice under section 13(2) of the NPA Act on the petitioner claiming an amount of Rs.2.44 crores. The petitioner sent its reply dated 13/7/2005, inter alia, raising objection on the ground of limitation. It appears that on 25/8/2006, respondent 1bank has served another notice on the petitioner. The petitioner sent reply to the said notice again raising, inter alia, objection regarding limitation. On 26/10/2006, the impugned notice came to be issued by respondent 1bank stating therein that possession of the secured assets would be taken on 15/11/2006 or thereafter. This notice is issued under section 13(4) of the NPA Act.