JADABENDRA PRADHAN Vs. MANAGING DIRECTOR, CANARA BANK

JUDGEMENT

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

(2.) Petitioner Jadabendra Pradhan is the Managing Director-cum-guarantor of M/s. S.S. Aluminum Private Limited, which has availed loan facilities in seven different loan accounts totaling a sum of around Rs.15.50 crores.

(3.) By filing the present writ petition, challenge has been laid to the notice dtd. 23/12/2021 issued under Sec. 13(4) of the SARFAESI Act, 2002 by the Bank for sale of mortgaged property of the petitioner offered as collateral security. The auction was slated to be held on 29/1/2022.