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16. The contention of the petitioners that the sale notice dated 23.06.2017 through private treaty is not sustainable as per Securitization Act and Rule 8(8) of the Security Interest (Enforcement) Rules, cannot be accepted, since the provisions stated by the petitioners have been amended way back on November 3, 2016. For better understanding, Rule 8(8) of the Security Interest (Enforcement) Rules before and after amendment are extracted hereunder:-
Rule 8(8) of the Security Interest (Enforcement) Rules, 2002:
