TASNEEM Vs. SHRIRAM HOUSING FINANC LIMTED

JUDGEMENT

(1.) The petitioners, by way of present petition, seek quashment of auction notice dated 24.9.2019 and direction to the respondent-Bank to pass a reasoned order on the representation by the petitioner.

(2.) Evidently, the initiation of action against the petitioners is under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (for short, 'SARFAESI Act, 2002'). In view of the law laid down by Hon''ble the Supreme Court in Union Bank of India v. Satyawati Tondon (2010) 8 SCC 110 wherein it has been held :