1. This writ petition is at the instance of a person covered under the definition of borrower given in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI, Act). Petitioner stood guarantor for principal borrower, the latter having defaulted in repaying the borrowings and interest. A cold storage situated in District-Burdwan was mortgaged by the guarantor in support of his guarantee. The property was secured for repayment of the loan. The bank issued sale notice dated 31st January, 2016 for sale of the secured property. Respondent nos. 3 and 4 are the successful auction bidders. Their bid was accepted by the bank and upon deposit of earnest money, they were given time to put in the balance. They did not deposit the balance within time. The bank forfeited the earnest and cancelled the sale. It proceeded to issue another sale notice dated 8th April, 2016.

2. Some time in May, 2016, respondent nos. 3 and 4 had applied to Debts Recovery Tribunal–I for, inter alia, quashing letters dated 9th March, 2016 and 11th May, 2016 issued by the bank forfeiting earnest money deposited by them. By order dated 20th May, 2016 the