ORDER : 1. Leave granted. 2. This appeal arises from the judgment and order passed by the High Court of Judicature at Bombay dated 22-11-2024 in Writ Petition No. 9569 of 2022 by which the High Court rejected the writ petition filed by the appellant-bank and thereby affirmed the order passed by the Debt Recovery Appellate Tribunal, Mumbai (for short, "DRAT") as regards the legality and validity of the notice issued by the bank to the respondents Under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ( for short, "the SARFAESI Act"). 3. We heard Mr. Gopal Jain, the learned senior counsel appearing for the appellant-bank and Mr. Sandeep Sheregar, the learned counsel appearing for the respondents (original borrowers). 4. We need not delve much into the facts of this litigation as two orders passed by this Court are sufficient to give a fair idea as regards the dispute involved in the matter. 5. Our order dated 03-03-2025 reads thus:- "1. Exemption Application is allowed. 2. Having heard Mr. Gopal Jain, the learned Senior counsel appearing for the petitioner - HDFC Bank Limited and Mr. Sandeep Sheregar, the learned counsel appearing for the respondents - borrowers on caveat, we are convinced that the High Court is not correct in taking the view that in the absence of a specific break-up in the notice issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2022 (for short, the "SARFAESI, Act"), the Bank could not have proceeded further for the recovery of the amount. Prima facie, the issue seems to be covered by the decision of this Court in "Arce Polymers (P) Ltd. v. Alphine Pharmaceuticals (P) Ltd. & Ors" Reported in (2022) 2 SCC 221 , more particularly Para 16 therein which reads thus:- "Waiver is an intentional relinquishment of a known right. Waiver applies when a party knows the material facts and is cognizant of the legal rights in that matter, and yet for some consideration consciously abandons the existing legal right, advantage, benefit, claim or privilege. Waiver can be contractual or by express conduct in consideration of some compromise. However, a statutory right may also be waived by implied conduct, like, by wanting to take a chance of a favourable decision. Waiver can be contractual or by express conduct in consideration of some compromise. However, a statutory right may also be waived by implied conduct, like, by wanting to take a chance of a favourable decision. The fact that the other side has acted on it, is sufficient consideration. 3. Para 16, referred to above, should be read with the letter addressed by the respondents - borrowers to the Bank dated 14-9-2015 (Annexure 'P8'). 4. However, in the course of the hearing of this matter, it fell from this Court that if the respondents -borrowers are ready and willing to deposit the requisite amount to the Bank, the Court is inclined to grant them some time. 5. In this regard, the learned counsel appearing for the Respondent prayed for some time to speak to his client. 6. He has come back with instructions from his client to make a statement before this Court that his client is ready and willing to deposit the amount of Rs.60,00,000/- (Rupees Sixty Lakh only) within a period of 12 months from today. 7. Before we proceed to pass any further order, we want the respondents to put the assurance of payment by way of an undertaking on oath in the form of an affidavit. 8. Post this matter on 17-3-2025 on top of the Board." 6. Thereafter, we, inter-alia, passed an order dated 17-03-2025, the same reads thus:- "1. xxx xxx xxx 2. Today, affidavit-cum-undertaking has been filed on behalf of the respondents - original borrowers. 3. The plain reading of the affidavit-cum-undertaking would indicate that the borrowers have undertaken to pay a total sum of Rs.60,00,000/- in 12 monthly installments of Rs.5,00,000/-. 4. However, the learned counsel appearing for the petitioner - HDFC Bank would submit that the amount due and payable by the borrowers as on date exceeds more than Rs.300,00,000/- (Rupees Three Crore). 5. If that is the case, then there is no point in asking the borrowers to make the payment of Rs.60,00,000/-. 6. The Bank shall look into the affidavit-cum-undertaking filed by the borrowers and respond to it by next date. 7. The Bank shall explain in what manner they have calculated the amount. 8. One copy of the reply that the Bank may file shall be furnished well in advance to the learned counsel appearing for the borrowers. 9. Post it on 24-3-2025 on top of the board." 7. 7. The Bank shall explain in what manner they have calculated the amount. 8. One copy of the reply that the Bank may file shall be furnished well in advance to the learned counsel appearing for the borrowers. 9. Post it on 24-3-2025 on top of the board." 7. The learned counsel appearing for the borrowers has manifold contentions to raise as regards the legality and validity of the actions taken by the appellant bank and also the proposed actions. 8. It is not necessary for us to deal with all those contentions. We take notice of the fact that the High Court rejected the writ petition filed by the appellant bank herein only on the ground that the notice issued under Section 13(2) of the SARFAESI Act was bereft of the necessary particulars inasmuch as it failed to provide the necessary break up. 9. As regards the aforesaid view of the High Court, we have already observed in our order of 03-03-2025 that the High Court took a very technical view of the matter. 10. Be that as it may. Having regard to the affidavit filed by the bank, we are of the view that the bank should issue a fresh notice under Section 13(2) of the SARFAESI Act to the respondent-borrower at the earliest in consonance with what the bank has said in its affidavit filed before this Court. If the respondent has anything to say in that regard, it shall be open for him to avail appropriate legal remedy before the appropriate forum in accordance with law. 11. In view of the afore-said, nothing further is required to be adjudicated in the matter. 12. In the result, the judgment and order of the High Court stands set aside. 13. The appeal stands disposed of accordingly. 14. Pending application(s), if any, stand disposed of.