prior to 31.12.2017, the bank illegally and wrongly classified the loan account of applicant No.1 as NPA, within a period of just three weeks of renewing the credit facilities; that as per RBI Circular dated 17.03.2016, the account of a borrower, whose unit falls under the MSME Category, shall not be declared as NPA without referring the case to a designated committee; that on receipt of the notice dated 16.12.2017 under Section 13(2) of the Act, applicants met the Officers of the respondent and requested for One Time Settlement in the loan account of applicant No.1, however, the OTS offer was rejected by the bank without any justifiable reason; that vide possession notice dated 15.03.2018, the bank took symbolic possession of the secured assets but the actual physical possession of the secured assets remained with the applicants; that the possession notice has not been served on all the applicants; that possession notice was neither affixed nor published in the newspapers in accordance with the Rules; that aggrieved by the action of the respondent under the provisions of the Act, the applicants filed SA No. 105/2018 before this Tribunal, which was dismissed on 28.07.2018 solely on the ground that SA is not maintainable till the secured creditor takes the actual physical possession of the secured asset; that the application filed by the respondent for seeking order of the District Magistrate under Section 14 of the Act is not in accordance with law and respondent has not filed an affidavit in support of application under Section 14 in accordance with law; that Learned ADM has failed to record the satisfaction about the contents of the Section 14 application and the affidavit of Authorised Officer in support thereof; that in complete violation of mandate of Section 14, the ADM, Ludhiana directed the Commissioner of Police, Ludhiana vide order dated 25.10.2018 to provide Police assistance to the Authorised Officer of the respondent for taking the physical possession of the secured assets; that DM cannot straightaway direct the police authorities to provide police help to the Authorised Officer of the secured creditor for taking over the physical possession, without passing a specific order on the application filed by the secured creditor under Section 14 of the Act; that in January, 2019 the applicants voluntarily handed over the physical possession of the factory premises to the Authorised Officer of the respondent with the understanding that the respondent will not take the physical possession of the residential flat, where the applicant Nos.2 & 3 resides; that respondent has not got registered the secured assets with the Central Registry and as such cannot take any
