( 1 ) M/s. Hotel Rajahamsa international is a proprietary concern which is running a hotel in the city of Vijayawada. The proprietor approached Indian Overseas bank for a term loan and cash credit facility of Rs. 40,00,000/- (Rupees Forty lakhs only ). The same was sanctioned and is payable, as per the loan contract in instalments @ rs. 73,600/- (Rupees Seventy three thousand six hundred only) per month with effect from 31. 1. 2001 up to 2009. The proprietor created an equitable mortgage in respect of building bearing No. 27-43-8 along with land admeasuring 499. 87 square yards at govemorpet, Vijayawada. Petitioner Nos. 2 to 5 herein also mortgaged their property as guarantors. It is the case of the first petitioner that the instalments were paid up to december 2003, but in May 2004, the second respondent-Bank filed an application being o. A. No. 98 of 2004 before the Debts recovery Tribunal, Visakhapatnam (DRT) for recovery of the amount by sale of the properties mortgaged to the Bank. It appears, the Bank filed two Interlocutory Applications being I. A. Nos. 229 and 233 of 2004 and obtained order of attachment of movable as well as immovable properties. The said O