1. Cause for grievance in this writ petition was the order dated 05.09.2015 in Crl. M.P No. 560 of 2015 passed by the learned Chief Metropolitan Magistrate, Ranga Reddy District at L.B. Nagar, in exercise of the power conferred by Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter, the SARFAESI Act). A declaration was also sought that the Asset Reconstruction Company (India) Private Limited, Mumbai, the 1st respondent, should not bring to sale the land admeasuring Ac.2.00 guntas situated in Sy. Nos. 595 and 596 of Pedda Amberpet Village, Hayathnagar Mandal, Ranga Reddy District, belonging to the petitioner and that he should not be dispossessed thereof pursuant to the order dated 05.09.2015 in Crl. M.P. No. 560 of 2015.

2. By interim order dated 21.03.2016, this Court directed status quo obtaining as on that date to be maintained with regard to the subject property for a period of eight weeks taking note of the petitioners case that he was a third party to the loan transaction, if any, between respondents 3 to 5 and any bank and that he had never offered his property as security for any loan tran