D. D. SINHA, J.:- Rule, returnable forthwith. Heard the petition finally on merits at the stage of admission.

2. The Petitioner is a body corporate registered under the Banking Companies (Acquisition & Transfer of Undertakings) Act V of 1970. The Respondent No.3 is a partnership firm of which Respondent Nos.4 and 5 are partners. Respondent Nos.4 and 5 are the guarantors to the credit facilities availed by the Respondent No.6 who has created mortgage so as to secure the debts of the Petitioner bank. Those properties are as follows:

1. Factory land and building at Survey No. 157, Hissa Nos. 1, 2, 3 Village Nadhal, Taluka : Khalapur, District Raigad, Maharashtra State.

2. Factory land and building at Survey No.158. Hissa No.1, Village Nadhal, Taluka : Khalapur, District : Raigad, Maharashtra State.

3. Factory land and building at Survey No.158, Hissa No.2-B, Village Nadhal, Taluka : Khalapur, District : Raigad, Maharashtra State.

4. Factory land and building at Survey No.159. Hissa No.1, Village Nadhal, Taluka Khalapur, District : Raigad, Maharashtra State.

All the aforesaid properties will be referred as "mortgage properties" for the sake of convenience.

3. The facts which have give