JUDGMENT :

S. Muralidhar, J.

This petition has been filed by the original borrower challenging the impugned order dated 7th September, 2015 passed by the Debt Recovery Appellate Tribunal ("DRAT") in IA No.649 of 2015 (new No.4037 of 2015) filed in SA No.65 of 2012 (Delhi-2), holding that the Petitioner's aforementioned application (SA) before the Debt Recovery Tribunal ("DRT") was not maintainable.

2. The background facts are that the Petitioner, which is a company engaged in the business of development and construction, undertook the project of constructing a five-star hotel at Gurgaon, Haryana for which it was sanctioned a loan of Rs.180.00 crores by a consortium of banks i.e., Respondent Nos.1 to 7, at various points in time. The project was unable to be completed and the consortium declared the debt owed by the Petitioner as a Non-Performing Asset (NPA). This led to initiation of proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 ("SARFAESI") culminating in a public auction of the hotel project. As a result of the auction, a sum of Rs.406.50 crores was collected by the consortium on 5th September, 2011.

3. Th