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Judgment
This writ petition has been filed by the petitioner aggrieved against the notice dated 30.11.2019 (Annex.8) issued under the provisions of Section 13(2)
of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘the Act’).
Various submissions have been made by the petitioner seeking to indicate that the petitioner is a viable unit and that the action of the respondent-Bank
in classifying the account of the Bank as NPA is not justified.
Further submissions have been made that restructuring proposal has already been made by the petitioner and that under the provisions of the MSME
Act also, the petitioner is entitled for exemption / extended period, which aspects have not been considered by the respondent-Bank.
However, a perusal of the entire record indicates that except for questioning the validity of the notice issued under Section 13(2) of the Act, the
petitioner has not placed on record any material, whereby the petitioner has approached the Bank with all those submissions, which are now sought to
be made in relation to seeking accommodation of the Bank for its revival / against the classification of the account as NPA.
In view thereof, no indulgence can be granted to the petitioner in the present writ petition. For all the issues now sought to be raised orally, the
petitioner has to approach the respondent-Bank by way of appropriate representation, if the petitioner makes such representation, the Bank is
expected to deal with the same appropriately in accordance with the law keeping in view the various provisions as relied on by the petitioner and
decide the same by way of appropriate speaking order.
With the above observations, the writ petition filed by the petitioner stands disposed of.