M/S TAMANNA AGRO INDUSTRIES Vs. CANARA BANK

JUDGEMENT

(1.) The present writ petition has been filed seeking quashing of notice dated 07.02.2017 (Annexure P-10) issued under section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity, 'the Act') and auction notice dated 09.11.2017 (Annexure P-11).

(2.) The petitioner No.1 is a proprietorship concern and petitioner No.2 is the proprietor. Canara Bank, Rejangala Chowk, Sighana Road, Narnaul has been arrayed as respondent in the present writ petition.

(3.) The petitioners availed a cash credit limit to the tune of Rs.10 lakhs from the respondent-bank. The said limit was enhanced to Rs.30 lakhs. In order to secure the credit facility, the property consisting of 10/284 share in agriculture land bearing Khewat No.27, Khatoni No.27, Mustetil and Killa Nos.50//16/2/(6-4), 17(8-0); Kitats 2 area measuring 14 Kanal 4 Marla wherein share in the land comes to 10 Marla situated in the revenue estate of village Nasibpur, Tehsil Narnaul was mortgaged with the bank.