JAYANT NATH, J.

1. The present appeal is filed seeking to impugn the judgment of the learned Single Judge dated 1.9.2015 by which the Writ Petition was dismissed holding that the appellant has an alternate efficacious remedy of approaching the Debt Recovery Tribunal under section 17(1) of The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as “SARFAESI Act”).

2. The brief relevant facts as stated which led to filing of the Writ Petition are that the borrower M/s.India Iron and Steel Corporation Limited had its factory on plot of land measuring Khasra No.116, 117, 119 and 153, village Noorpur Khirki and Khasra No.40, 41 min.42 village Faridnagar, Tehsil Dhampur, District Bijnor, Uttar Pradesh and the plant and machinery therein at the premise. The said property was mortgaged by the borrower with the respondent bank for obtaining financial facilities. On account of defaults committed by the borrower the respondent bank initiated appropriate proceedings under the provisions of SARFAESI Act, 2002. A sale notice was issued on 17.5.2014 about sale/auction of the property and the Plant and Machinery on 1