Applicant No. I is a partnership firm and availed loan from the Respondent bank by creating mortgage in respect of the schedule property. Due to unfavourable market conditions, the Applicants could not repay the loan dues and so, the Respondent bank issued demand notice dt.13.l O.2022 u/s 13(2)of the SARFAEST Act,2oo2 by crassisring the roan account as NPA on 29.1o.2022. To the said demand notice, the Appricants submitted objections vide their letter dt.28.12 .2023 and to the said objections, the Respondent issued reply dt. 1 1.01.2023 without clari$,ing the objections raised by the Applicants. Thereafter, the Respondent bank issued possession notice dt.28.02.2023 u/s l3(a) of the SARF.AESI Act, 2002 but the said notice was not served on the Applicants. The Respondent failed to affix the possession notice on the schedule property and publish the said notice in two leading newspapers. Thereafter without issuing prior to sale notice, the Respondent bank issued the impugned e Auction sale notice dt.2O.07.2023 and the said notice was not published in two leading newspapers and not affixed on the schedule property. Hence the SA.
