HARISH TANDON, J.:

1. This revisional application is directed against judgment and order dated 3rd February, 2011, passed by the Debt Recovery Appellate Tribunal, Kolkata in Appeal No. 79 of 2009.

2. A short but interesting question is raised in this revisional application by the petitioner as to whether it is an account which is declared as non-performing assets for non-payment of the term deposit or the property which is hypothecated and/or pledged for securing such term loan when depletes its value is termed as non-performing assets.

3. According to the petitioner which is not disputed by the Financial Institutions/Bank that the flat which stood as collateral security for such term loan would fetch much value than the claim of the bank and as such the action of the bank under the Securitisation & Reconstruction of Financial Assets and Enforcement of Security Interest Act after declaring the said asset as NPA is illegal and contrary to the aims and object for which such act was introduced.

4. Before dealing with such point, certain facts is required to be narrated.

5. On 30th September, 2003, the opposite party bank sanctioned a term loan of Rs.32 lakhs against an equitab