JUDGMENT

1. The present petition has been taken up for consideration through the mode of Video conferencing in view of the prevailing situation on account of COVID 19 Pandemic, requiring social distancing.

2. The present writ petition has been filed for quashing the order dated 18.09.2019, contained in memo dated 19.09.2019, passed by the District Magistrate, Aurangabad, whereby and whereunder officers and police force have been deputed to seize the property of the petitioner and handover the possession of the same to the respondent Bank as also for quashing the letter dated 21.09.2019 issued by the Authorized Officer of the respondent Bank, by which intimation has been given to take possession of the assets of the petitioners.

3. The brief facts of the case, according to the petitioners are that the petitioner no. 2 is one of the Director of the petitioner no. 1 and he had extended his personal guarantee to obtain term loan and Cash Credit loan from the respondent bank. The bank had earlier sanctioned term loan to the tune of Rs. 2.66 crores with interest @ 12.5 % per annum repayable in 72 monthly installments, commencing from the month of July, 2016 onwards. Thereafter, cash credit