ORDER :

V. Ramasubramanian, J.

1. A company in respect of which a "Resolution Process" has been initiated in terms of the provisions of the Insolvency and Bankruptcy Code, 2016 has come up with the above three writ petitions, challenging in the first writ petition the measures taken by the secured creditors under the Securitisation Act, 2002, purportedly in violation of the directions issued by the Reserve Bank of India (RBI) under Section 35-AB of the Banking Regulation Act, 1949 and challenging in the second and third writ petitions, the auction sale of some properties under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the Securitisation Act, 2002, for short).

2. Heard Mr. S. Ravi, learned Senior Counsel and Mr. M. Laxminarasimham, learned Counsel appearing for the petitioners, Mr. R. Raghunandan Rao, learned Senior Counsel appearing for Andhra Bank, Mr. S. Niranjan Reddy, learned Senior Counsel appearing for the auction purchaser, Ms. T. Vidya Rani, learned Standing Counsel for Canara Bank, Mr. Ch. Siva Reddy, learned Standing Counsel for Central Bank of India, M/s. M.V. Kini & Co., Advocates & Solicitors, for Dena Bank, Mr. G. Vivekanand, learned Standing Counsel for United Bank of India, Mr. Manohar Reddy Nandyala, learned Standing Counsel for UCO Bank and Mr. B.S. Prasad, learned Standing Counsel for Union Bank of India and Vijaya Bank.

3. The first petitioner in these writ petitions is an infrastructure company, which had purportedly taken up several roads and irrigation projects. During the course of its business, the petitioner availed Fund based and Non-Fund based Term Loans and working capital limits from 14 banks. The account of the petitioner with the banks became a non-performing asset, during the period from 2014 to 2016. The names of the banks from which facilities were availed, the dates on which the accounts became NPA and the amounts outstanding as on the date of classification of NPA are filed by the petitioners themselves in the form of a tabular column as follows :

4. For securing the due repayment of the loans, the petitioners had mortgaged all the immoveable properties to various banks. About 11 items of properties were mortgaged to the Andhra Bank, one item mortgaged to the Bank of Baroda, 6 items of properties mortgaged to Bank of India and so on and so forth.

5. It appears that various banks have filed applications under Section 19 of the Recovery of Debts and Bankruptcy Act, 1993 before the Debts Recovery Tribunal at Hyderabad, details of which are as follows :