ORDER

1. Civil Application No. 2681 of 2017 has been filed in Writ Petition No. 11371 of 2014 by the respondent no.1 in such writ petition, being the secured creditor, seeking diverse reliefs for obtaining possession of the secured asset (Flat No. 1702, 17th floor, "A" Wing of 'Sweet Home Cooperative Housing Society Ltd.').

2. While hearing this civil application, we have heard the writ petition on its own merits. By this common order, we propose to dispose of the civil application as well as the writ petition.

3. The question involved in the writ petition is short but interesting. However, before we formulate the same for an answer, it would be proper to notice the basic facts.

4. The petitioner no. 1 is a partnership firm whereas the other petitioners are the partners of such firm. The firm carries on business of renting cars. It obtained financial assistance from the respondent no.2, which is a non-banking financial company, upon creation of mortgage in respect of the aforesaid flat. Admittedly, the petitioners defaulted in repaying the dues of the respondent no.2. However, the respondent no.2 did not pursue legal action for recovery of its dues; instead, on July 18, 2012, it assign