There is no discretion vested with the Bank under Section 2(1)(o) of SARFAESI Act, 2002 to pick and choose an account as an NPA at its own whim and fancy. In declaring an account as an NPA, the Banks have to act in accordance with the provisions of the Act and the various Circulars / Guidelines issued by the RB – M/s. Holystar Natural Resources Pvt. Ltd. & Anr. Vs. Union of India & Anr. – Delhi High Court