The Applicant No.1 is a company engaged in the business of development of new Molecules and Formulations in the field of Veterinary Pharmaceuticals and Applicants No.2 to 8 are the Directors/guarantors of the Applicant No.1 company.Applicant No.1 availed various credit facilities from the Respondent Bank and created mortgage in respect of the schedule properties including plant and machinery. Applicants No.2 to g stood as guarantors and created mortgage against their properties. Due to covid-19, the l"tApplicant could not repay the loan amounts due. so, the Respondent Bank classified the loan accounts of the lst Applicant as NPA on 28.o1.2o2r. The lst Applicant also requested for one time settlement but the same was not accepted by the bank. Without considering the oTS proposal made by the Applicants, the Respondent bank issued demand notice dt.04.03.2022 to the Applicants u/s 13(2) of the SARFAESI Act, 2oo2. To the said demand notice, the lst Applicant issued reply dt.22.O4.2O22 and to the said notice, the bank issued reply dt.09.05.2022 without answering the objections. Thereafter, the Respondent bank affixed the possession notice dt.21.o6.2o22 and 23.06.2022 u/s 13(4) of the SARFAESI Act, 2oo2 for taking symbolic possession of the schedule properties and the said possession notices were not published in two leading newspapers and not served on the Applicants and hence the impugned possession notices are null and void. The Respondent o3rrk "l"q,lfd o.Ar28l22 before this Tribunal and the same is pendipgi$_pn"-u ,thgp$,.. ir:.;:).. i ;i'r ,,,rl1 ,/'{o i;i "rl1\ 3. The Resp6hdent Bank liied theirftepily denying all the adverse allegations made i, tfilgpa J,* anftffia ,,r*"ril;. aipril..,t" availed various loan ^:;ji 1-..',. ....r,:,. ,. ..!.; .,q"6 ., ..:"i-., r ,' . - :'i,'.li1i-,:;i);d ""un il:;],;, ",u''i::ri';r)ii" ";; ;. -- 1:- ;---;#."r
