R. M. LODHA, J. : - On 5th December, 2005, the Court observed considering the controversy involved, and that may arise in other matters as w writ petition needs to be heard and disposed of at the admission stage, accordingly, heard the counsel for the parties for final disposal of the petition.

2. The Thane J anata Sahakari Bank Limited is a scheduled co - opera bank incorporated under the Maharashtra Co - operative Societies Act, 1960 an in the banking business. For the sake of convenience, we shall refer the petition as the Bank hereinafter. One M/s Charishma Cosmetics Pvt. Ltd. (for short company) had credit facilities with the Bank. According to the Bank, as on 3 June, 2004, the company was indebted to the Bank in the sum of 2,32,00,000/ - against the cash credit facility and Rs. 10,00,000/ - towards working capital term loan. For availing the credit facilities, the company mortgaged factory, land and building by way of equitable mortgage in favour the bank on 18 - 2 - 1997. The account of the company was classified as n performing assets and the bank decided to recover the due amount against company under the Securitisation and Reconstruction of