PRAVAT KUMAR PRADHAN Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This matter is taken up through hybrid arrangement (virtual/physical mode).

(2.) The petitioner had availed a Cash Credit Loan to the tune of Rs.35,00,000.00 from State Bank of India, College Square Branch, Cuttack. Due to non-servicing of the loan account, it was declared NPA and a Demand Notice under Sec. 13(2) of SARFAESI Act, 2002 (in short, "the Act, 2002") was issued on 21/8/2012 recalling the outstanding liability of Rs.38,49,302.00 due as on 16/8/2012 plus interest and expenses.

(3.) Challenge in the present Writ Petition has been laid to the Sale Notice dtd. 28/4/2014 intimating the fixing of auction sale on 30/5/2014 of the mortgaged property towards recovery of the outstanding amount.