It is further submitted that the Bank has complied with all the provisions & procedures contemplated under SARFAESI Act & Rules. Further, the creation of security interest was duly registered in the Central Registry of CERSAI. Further it is submitted that the Defendant Bank has issued Demand Notice dated 08.11.2023, which was received by the Applicant. Thereafter, the Bank issued Possession Notice dated 13.02.24 for the items 1 & 3 mentioned in the Demand Notice, which was also received by the Applicant. Further, the Bank published the Possession Notice both in English & Tamil dailies on 15.02.24 and affixed the same on the conspicuous part of the Property on 13.02.24. Thereafter, the Defendant Bank issued Sale Notice dated 15.03.24 for the above said 3rd item of property mentioned in the Demand Notice, which was also received by the Applicant. Further, the Bank published the Sale Notice dt. 15.03.24 both in English & Tamil dailies on 16.03.24 and affixed the same on the conspicuous part of the Property on 15.03.24. They have obtained Valuation Report dated 17.09.2021 from approved valuer, on which upset price was fixed and the valuer has assessed the market value as Rs. 32,82,000/- and the Bank has fixed the market value itself as reserve price.
