This Appeal under Clause 10 of the Letters Patent is preferred by the respondent State Bank of India (hereinafter referred to as "the Bank") against the order dated 27th August, 2012 made by the learned single Judge in C.W.J.C. No. 8746 of 2012.

2. Tile respondent M/s. Purnea Cold Storage (hereinafter referred to as "the Petitioner/writ Petitioner"), a proprietary firm, approached this Court through its proprietor Amar Nath Tiwari under Article 226 of the Constitution in above C.W.J.C. No.8746 of 2012.

3. With the financial assistance of the State Bank of India, the predecessor of the petitioner had set-up a cold storage and ice factory as early as in 1972. In 1992, the credit facility was enhanced. Over the years, the petitioner claims to have repaid the original and the loan received in 1992. The petitioner availed of further financial assistance for expansion of his business in 1998. In 2005, a huge loan was borrowed by the petitioner for modernization of the plant and machinery. In 2008, the Bank advanced the credit facility to the extent of Rs. 4,94,40,000.00. The petitioner offered certain land in security. It is not in dispute that the petitioner is a debtor in defaul