HANUMAN EXPORTS Vs. VIJAYA BANK

JUDGEMENT

(1.) The petitioners have come up with the above Writ Petition challenging the measures taken under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, the Act ), and also the auction sale notice.

(2.) Heard Mr.J.C.Francis, learned counsel for the petitioners and Mr.E. Madan Mohan Rao, takes notice for the Bank.

(3.) After the account of the petitioners became a Nonperforming Asset, a demand notice under Section 13 (2) of the Act was issued on 07.05.2015. It was followed by a possession notice under Section 13 (4) of the Act.