Security Interest Act, 2002 (for brevity, 'the SARFAESI Act '). The
petitioner advanced loan of `3.50 crores to respondent ... declaring their accounts as 'NPA' and consequential
action under Section 13(2) of the SARFAESI Act. The petitioner has
thereafter filed an application
NPA" on 30.09.2017 and thereafter measures
under the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 have been taken ... ground that the accounts had yet not
been classified as 'NPA'.
[2] The aggrieved petitioners are said to have made representation
account as 'NPA' and initiated action under the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 (for brevity
classified as 'NPA' and action
under the Securitization and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 (for brevity
NPA' and Notice under Section 13(2) of the
Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest Act, 2002 (for brevity
NPA' and measures under Section 13 of the Securitization
and Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 (for brevity
installments were not paid, the account was classified as 'NPA' and as per
the notice issued under Sections 13(2) of the Securitization ... Financial Assets and Enforcement of Security Interest
Act, 2002 (for brevity, 'the SARFAESI Act '), a sum of almost `36.00 lacs is
unpaid
Financial Assets
and Enforcement of Security Interest Act, 2002 (for brevity, 'the 2002 Act')
in terms of Government of India, Ministry of Finance ... declared 'NPA' on 30.04.2017. The petitioner thereafter
appears to have taken measures under Section 13 of the 2002 Act followed
Financial Assets and
Enforcement of Security Interest Act, 2002 (for brevity, 'the SARFAESI
Act ') have been taken. The aggrieved petitioners have approached this ... guidelines, their account could not be declared 'NPA' and as such the action
of the Bank is illegal. On the other hand, case
NPA' and measures under Section 13 of the Securitization and
Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002 (for brevity
