JUDGMENT

ALOK ARADHE J. - In this writ petition the petitioner has assailed the validity of the orders dtd. 19/12/2011 as well as order dtd. 14/10/2016 passed by the Debt Recovery Appellate Tribunal (hereinafter referred to as 'the tribunal' for short).

2. Facts leading to filing of this petition briefly stated are that the petitioner is a company having its head office at Mangalore, Dakshina Kannada. The petitioner No.2 is the Chairman cum Managing Director of petitioner No.1. The petitioner mainly deals in petroleum products and was also a dealer for fiat cars. The petitioners had availed of various credit facilities from the respondent Bank (hereinafter referred to as 'the Bank' for short) from time to time. On 28/10/1995, the petitioners had obtained credit facility upto Rs.28.00 Lakhs and a loan account viz., OCC No.5207 was opened. The total limit on the aforesaid account was Rs.40.00Lakhs. The Bank on 1998 sanctioned another credit facility for a sum of Rs.25.00 Lakhs bearing OCC 5734. The petitioners have mortgaged its landed property bearing RS No.91/58 situated at Balm