( 1 ) THIS suit has been filed by the consortium of plaintiff banks for recovery of Rs. 13,81,41,611. 29 paise being the loan advanced by the banks. The defendants by way of securing the aforesaid loan mortgaged their properties in favour of all the banks. Original title deeds of the properties were deposited with the plaintiff No. 1 pursuant to a Resolution passed by the Governing Body of the said defendant, creating an equitable mortgage of the properties by way of a security for repayment of the term loan granted by the plaintiff-bank. The loan was not returned and the plaintiffs, therefore, filed the present suit for recovery of the said amount. The amount was sought to be recovered by sale of the mortgaged properties mentioned in the plaint.

( 2 ) ON the establishment of the Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (in short REFERRED TO as "the Act"), no Court or other authority had any jurisdiction, power or authority (except the Supreme Court, and a High Court exercising jurisdiction under Articles 226 and 227 of the Constitution) in relation to the matters specified in Section 17 of the Act. Under Section 17 of