“12. That it is interesting to note, that the applicants took certain objections under the notice dated 18.09.2023 (Annexure A-7), including that the applicant firm is registered as a MSME enterprise which falls section 7 of MSMED Act, 2006, therefore is required to be given benefit of the guidelines issued by the Reserve Bank Of India viz. "Frame - Work for Revival and Rehabilitation of MSME's", that as per guidelines of the R.B.I the respondent bank had to refer the matter to a special committee. That the respondent bank sent a letter dated 04.10.2023, summarily dismissed the objections raised by the applicants vide letter dated 18.09.2023 (Annexure A-7). The respondent bank, did not reply nor objected to this violation of the guidelines of the RBI and only informed the applicants to either make the full loan repayment or that the mortgaged property shall be redeemed, thus the malice of the respondent bank to merely harass the applicants under the grab of the notices of the Act is self-evident from the fact that till date the respondent bank has not dealt the case of the applicants as per the guidelines of the RBI for registered MSME. A copy of the MSME registration dated 27.09.2021 is annexed as Annexure A-8 and a copy of the reply to objections dated 04.10.2023 is annexed is Annexure A-9.”
