(1.) This matter is taken up through virtual/physical mode.
(2.) The Petitioner is a defaulting borrower of a cash credit loan facility availed for a sum of Rs.10.00 lakhs from Union Bank of India, Jharsuguda Branch, Jharsuguda in the month of October, 2004 for supporting business of Rice Mill. Due to financial indiscipline, the loan account was declared NPA on 25/8/2011. The demand notice under Sec. 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the Act, 2002') was issued on 31/12/2011 recalling an outstanding liability of Rs.21,57, 978.00 due as on 31/12/2011 excluding interest. Symbolic possession of the secured asset/mortgaged property was assumed vide notice dtd. 23/3/2022 under Sec. 13(4) of the Act, 2002. The sale notice dtd. 25/3/2022 is stated to have been issued for conduct of the e-auction sale of the secured asset on 29/4/2022.
(3.) By filing the present writ petition, challenge has been laid to the aforesaid sale notice dtd. 25/3/2022.