R.S. Chauhan, J.

1. Initially aggrieved by the Judgment dated 16-8-2010, passed by a Single Judge of this court in two writ petitions, namely W.P. No. 36955/2009 and W.P. No. 29729/2009, whereby the Learned Single Judge has dismissed both the writ petitions, the appellant has approached this court. However, with the change in events, with the auction and sale of the hotel owned by the appellant firm, the appellant has challenged the auction and the sale by the respondent No. 2, the Syndicate Bank, before this court.

2. This case has a rather checkered history: in order to construct a hotel, in 1998, the appellant-firm had borrowed Rs. 70 Lakhs from the respondent No. 2, the Syndicate Bank. For the purpose of securing the loan, the appellant-firm had mortgaged three of its properties with the Bank. However, according to the appellant, the Bank released Rs. 25 Lakhs in 1998 and another Rs. 25 Lakhs in 1999. Thus, in total, the Bank lent only an amount of Rs. 50 Lakhs to the appellant-firm. Since the entire loan amount was not paid to the appellant-firm, it could neither complete the construction of the hotel, nor earn in its business. Till 2001 the appellant-firm regularly pa