3 The above Writ Petition is filed inter alia seeking a relief to declare that the borrower firm is a MSME within the meaning of Sections 7 and 8 of the MSMED Act, 2006 and entitled to the benefits of the said Act and in particular the Notification S. O. 1432 (E) dated 29th May, 2015. Mr.Nedumpara fairly submitted that though these are the reliefs which are sought in the present Writ Petition, the real issue is that the Chembur Nagrik Sahakari Bank Ltd has sought to auction the secured asset today without following the mandatory provisions of the SARFAESI Act and the Rules framed thereunder. In that regard, he brought to our attention the notice at page 30 of the above Interim Application conducting the sale of the secured asset, and which is dated 12th April, 2024. Mr. Nedumpara submitted that it is an admitted fact that this is the first auction that has been held by the bank, and hence, under Rule 9 (1) of the Security Interest (Enforcement) Rules, 2002, the bank has to give a minimum 30 days notice before conducting the sale of the secured asset. This has admittedly not been done, and therefore, the auction held today is wholly illegal.
