whatsoever was pointed out to the demand notice, possession notice or auction sale notice in the reply that was sent on behalf of the borrowers. The facts regarding the death of one of the borrowers were also not revealed in that letter. The appellants thereafter filed S.A. No. 57 of 2018. In that application, the appellants had admitted the availing of a loan, creation of a mortgage, and the default in making payments. There were no objections raised about the deficiency in the demand notice dated 11/09/2017. The auction sale scheduled to be held on 31/03/2018 did not proceed and a fresh demand notice was issued on 23/07/2018. Given the debt of one of the borrowers revealed in the S.A. demanding a sum of ₹1,94,98,569.08. No objection was raised to the 2nd demand notice served on the appellants. Since there was no payment, symbolic possession of the secured asset was taken on 22/11/2018. As there was no response from the appellants, a fresh auction sale notice was issued on 23/02/2019 fixing the sale on 28/03/2019. Measures were also initiated under Sec. 14 of the SARFAESI Act before the District Magistrate Nashik. It is also pertinent to note that the appellants had appeared before the District Magistrate and filed their objections on 20/03/2019. There is no challenge to the said sale notice. The sale notice dated 05/05.2023 demands a sum of ₹4,06,48,176/-.
