JUPITER INDUSTRIES Vs. CANARA BANK

JUDGEMENT

(1.) Heard Mr. S. Ravi, learned Senior Counsel for the petitioners.

(2.) This petition under Article 226 of the Constitution of India has been filed by the petitioners for quashing the sale notice dtd. 21/1/2022, issued by the respondent/Canara Bank, under Sec. 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the SARFAESI Act') and for a direction to the respondent to apply the circulars of the Reserve Bank of India dtd. 17/3/2016 and 14/7/2017, while considering the case of the petitioners under the SARFAESI Act.

(3.) It appears that petitioners had availed financial assistance from the respondent by way of term loan facility for carrying out their business activities.