bank. Thereafter the loan amount was disbursed to the applicant. He was repaying the loan regularly but due to Covid-19 pandemic and also the flood occurred in the year 2018, there occurred some default in repayment. Consequently, the 1st defendant proceeded with the securitization measures. On 04.09.2024 the Advocate Commissioner issued notice to take possession of the secured asset. On enquiry the applicant came to know that the 1st defendant filed MC No.571/2022 before the CJM, Kollam in which an Advocate Commissioner was appointed to take physical possession of the secured asset. The applicant resides in ‘Sulthan Palace, Chirayil, Elampalloor, Kollam’ and in the loan application, the same address was mentioned. No notice under S.13(2) of the SARFAESI Act was ever served on the applicant in the said address. In absence of service of demand notice, securitization proceeding including measure under S.14 of the SARFAESI Act is vitiated. The 1st defendant cannot proceed with the securitization measures in view of the failure of statutory requirements. Hence the SA is filed to set aside the order passed by the CJM Court, Kollam in MC No.571/2022 with further relief to declare that the entire proceeding is illegal and unsustainable.
