Deepa Sharma, J.

1. Vide this writ petition, the petitioner/ Bank has impugned the order dated 06.04.2017 passed by learned Debt Recovery Appellate Tribunal (hereinafter referred to as “DRAT”) in Misc. Application No. 274/2017 in Misc. Appeal No. 439/2016.

2. The facts necessary for the present writ petition are as under:-

M/s Nidhi Builders/borrower had taken loan from the petitioner Bank and also mortgaged the property bearing plot no. 9, Sector 20 at Dwarka, Delhi (hereinafter referred to as “subject property”). The borrower and the guarantors failed to repay the loan and an OA No. 07/10 was filed by the petitioner Bank against them for the recovery of Rs. 24.17 crores along with interest before Debt Recovery Tribunal-II, Delhi (hereinafter referred to as “DRT-II”). Permission to auction the subject property for the recovery of the defaulted amount was granted by the DRT-II. The reserve price was reduced from Rs. 28 crores to Rs. 17.85 crores. Thereupon, respondent No. 1 offered to purchase the subject property for a sum of Rs. 21.06 crores subject to Bank getting clearance from DRT and vide its letter dated 04.11.2013 offered to make the payment within 60 days and also o