(1.) This writ petition was filed assailing the possession notice dtd. 23/11/2015 issued by the Standard Chartered Bank under Rule 8(1) of the Security Interest (Enforcement) Rules, 2002.
(2.) By order dtd. 8/12/2015, this Court granted interim stay of all further proceedings pursuant to the impugned possession notice subject to the petitioner depositing a sum of Rs.5,00,000.00 with the respondent Bank within a time frame. This conditional order was admittedly complied with.
(3.) Perusal of the impugned possession notice reflects that it was issued pursuant to the demand notice under Sec. 13(2) of the Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the SARFAESI Act') dating back to 13/4/2011.