The Respondent served the Demand Notice dated 10.06.2022 u/sec.13(2) and Possession Notice dated O5.09.2022 u/sec. 13(4) of the SARFAESI Act, on the Applicants. Thereafter, the Respondent proceeded u/sec. l4 of the SARFAESI Act, by fiting Cr1.M.P.No.48 12023 on the file of Chief Judicial Magistrate, Hanumakonda and obtained orders on appointment of Advocate Commissioner on 06.O7.2023 for taking physical possession of the application schedule property. The said Possession Notice was affixed on the schedule property and also published in "Mana Telangana" and 'Financial Express" newspapers on 09.O9.2022. The allegation of the Applicants that the Respondent without disclosing the latest material facts as contemplated under clause (b) proviso with sub-clause (i to k) of Section 1a(1) of the Act, 2OO2 is false and in correct. The Applicants gave request letter dated 03.02.2023 for settling the mater under OTS for Rs.74,00,000/-, which is to be deposited by them on or before 2O.O3.2O23, in both the loan accounts. The Applicants lailed to make the payment and as such the Respondent vide letter dated 1O.O4.2023 had cancelled the said OTS. In tJle said OTS proposal dated 03.02.2023, t}:,e Applicants have categorically the receipt of Demand Notice and Possession Notice evidences the fact that the Respondent had duly 21Ict e procedure contemplated under the Act and Rules ce the S.A is liable to be dismissed.
