GUPTA HARDWARE STORE Vs. UNION OF INDIA

JUDGEMENT

(1.) The instant petition has been filed for grant of the following reliefs:-

(2.) Shorn of unnecessary details, the petitioners secured a loan of Rs.25,00,000.00 (Rupees twenty lac) from Shriram City Union Finance Limited (for short 'finance company') and had been paying monthly EMI of Rs.72083.00regularly, but later defaulted, constraining the finance company to issue demand notice to the petitioner dtd. 27/7/2024 under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act'), raising a total demand of Rs.18,45,198.00.

(3.) Petitioners submitted reply to the said notice, but to no avail.