R.K. Gauba, J.

1. Through the writ petition at hand challenge is brought to order dated 03.11.2014 passed by Debts Recovery Appellate Tribunal (DRAT) in appeal No.115/2014 arising out of original application (OA) No.591/97 decided by the Debts Recovery Tribunal (DRT) on 11.10.2012.

2. The background facts lie in a short compass and may be noted at the outset. The petitioner No.1 is a company incorporated and registered under the Companies Act having its office in Indore, Madhya Pradesh. The petitioner No.2 is one of the Directors while petitioner No.3 is legal heir of one of the co-defendants (defendant No.7 – since deceased, also a Director) before the DRT. The petitioner-company had opened a current account with respondent-bank (hereinafter referred to as “the bank”) on 21.2.1991. It approached the bank for collection of applications for allotment of shares of its public issue scheduled to be opened in April, 1992. The public issue offered for allotment 18 lakh equity shares of Rs. 10/- each. The public issue account was opened by the petitioner-company on 06.04.2012 with the Parliament Street Branch of the bank, which had designated its various branches to collect the