Commissioner. The SA was amended in challenging taking of physical possession on 17.08.2023. In paragraph 5.w. of the amended SA, it is claimed that after taking possession of the property, the bank and its officers have not taken proper care to protect the building and the property as provided under R.8(3) of the Security Interest (Enforcement) Rules, 2002. The rain water of torrential rain was allowed to flow through the property. As a result, retaining wall of the building by the side of Kallada River was destroyed and swept away. The defendants did not protect the property and the building from flood which caused total destruction and damage to the retaining wall of the building in existence over the secured asset. The Authorised Officer has failed to follow the mandates as contained under R.8(3) of the Security Interest (Enforcement) Rules, 2002. Hence the applicant claims that necessary direction may be given to the defendants to reconstruct the retaining wall of the building and to restore and strengthen the foundation of the building etc. Subsequently, Annexure-A8 notice dated 22.11.2023 issued by the 1st defendant for tender cum auction sale of the secured asset was challenged by way of amendment but Annexure-A8 notice and subsequent sale notices did not fructify and the stay petitions were rejected as infructuous.
