applicant bank. lt is stated that the applicant bank at present has no claim againsl the CFITL account. lnitially the loan accounts were running smoothly as the defendants were making regular repayments towards their loan. Subsequenfly they started committing default in making repayments of the loans. Due to irregularities committed by the defendants, the loan accounts of the defendanls have become NPA (Non-Performing Assets) on 30-04-2021. Subsequenfly, vide letter dated 29_ 06-2021 the defendant No.2 had requested six months,time for regularizing their loan accounts. However, after declaring the Loan accounts NpA, the applicant bank has served Recall Notice dated 31-01-202,1 interalia asking the defendants to pay the debts within a period of 7 (seven) days from the date of receipt of the notice. Since the defendants have failed to pay any heed to the bank,s demand, the applicant bank had further served Section 13(2) SARFAESI Notice dated 07_ 08-2021 upon the defendants interalia asking them to pay the entire debts within a period of 60 days from the date of the Notice, but in vain. lnstead of paying the debts, the defendanl No.2 had written letter dated 11]lO-2021 interalia requesting the applicant bank to restrain its proceeding under the SARFAESI Act. However, the applicant bank has given repty to the defendant,s tetter dated,11-10_2021| through the bank's empaneled Advocate vide letter dated 2g_10_2021 interalia rejecting the defendant's request.
