1. This appeal is at the instance of the respondent Nos. 3 and 4 in a writ-application and is directed against an order dated 5th and 6th May, 2008 passed by a learned Single Judge of this Court by which His Lordship set aside the order dated January 11, 2008 passed by the Presiding Officer, Debts Recovery Tribunal No.1, Kolkata, in O.A./SARFAESI 70/07 rejecting an application under Section 5 of the Limitation Act filed by the writ petitioner for condonation of delay in filing the application under Section 17(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. ("SARFAESI Act").

2. The writ-petitioner, in the writ-application, out of which the present mandamus-appeal arises, challenged the aforesaid order passed by the Debts Recovery Tribunal.

3. The facts given rise to filing of the said writ-application may be summed up thus:

The property involved in the writ-application was sold by the Allahabad Bank by taking recourse to Section 13(4) of the SARFAESI Act and was purchased by the present appellants. Disputing the legality of the notice under Section 13(4) of the SARFAESI Act dated September 21, 2007 the writ-petitio