K.M. Thaker, J.

1. The petitioner is one of the directors of respondent No.3 Company who has committed defaults in repaying loans/credit facilities to the tune of about Rs. 25.25 Crores granted by respondent No.2 bank.

1.1 The petitioner is also one of the guarantors.

1.2 This petition is preferred against order dated 22.10.2013 in S.A. No. 77 of 2013 passed by the Learned Debts Recovery Tribunal II, Ahmedabad (hereinafter referred to as the "learned Tribunal) whereby the learned Tribunal has rejected the said S.A. No. 77 of 2013 holding, inter-alia, that the application is not maintainable before learned Tribunal at Ahmedabad. Learned Tribunal has observed and held, inter-alia, that:-

"5. On bare reading the above noted provisions of Section 19 (1), I am of the opinion that, Ld. DRT-I Kolkata and Hon'ble Calcutta High Court have had only jurisdiction to try this SA."

2. In the said order dated 22.10.2013 learned Tribunal has further observed and held that:-

"6. Therefore with ought most respect to the decision of the Hon'ble Delhi High Court, I am of the opinion that in the prevailing situation, this Tribunal has had no jurisdiction to try this SA. The OA filed by the respondent bank is pending before the Ld. DRT-I Kolkata. This apart once having invoked the jurisdiction of the Hon'ble Calcutta High Court, the Applicant should not be allowed to restore to forum shopping and invoke jurisdiction of different Courts/Tribunals as per his whim and fancy. In view of the forgoing, to prevent conflicting decision being reached, to prevent abuse of its process, to secure the ends of justice and as the tribunal lacks jurisdiction, I pass the under noted order.

ORDER

(1) The SA No. 77/2013 is dismissed.

(2) For abusing the process of the Tribunal, an exemplary cost of Rs. 25,000/- is imposed on the Applicant, payable to the respondent bank within 7 days from this order."

3. The petitioner is aggrieved by the said order therefore, petitioner has preferred present petition and prayed, inter-alia, that:-

"31 (A) This Hon'ble Court be pleased to issue a writ of or in the nature of mandamus or a writ of or in the nature of certiorari or any other appropriate writ, order or direction quashing and setting aside the orders dated 27.8.2013, 22.10.2013 and 23.10.2013 passed by the respondent no.1 in the Securitization Application No.77 of 2013 at Annexures Q, U and V respectively.

(B) This Hon'ble Court be pleased to issue a writ of or in the nature of mandamus or a writ of or in the nature of certiorari or any other appropriate writ, order or direction:

(i). holding and declaring that the action of the respondent no.2 of putting up the subject property for auction by way of the auction notice dated 24/25.7.2013 is unreasonable, inequitable, high-handed and illegal.

(ii). quashing and setting aside the auction process of the subject property carried out by the respondent No.2 and the confirmation of sale of the subject property by the respondent no.2 in favour of the respondent no.4.

(iii). Directing the respondent no.2 to conduct the auction sale of the subject property by fixing a proper and fair reserve price of the same in accordance with its correct market value as per the valuation report dated 25.1.2012 or a proper valuation report taken by the respondent No.2 and by giving widest possible publication of the proposed auction in leading newspapers in Gujarat in accordance with the requirements of law.

(iv). directing the respondent no.2 to consider the request of the petitioner to enter into one time settlement with the respondent no.2 for settling the entire dues of the respondent no. 3 before again putting up the subject property for auction.

C. Pending the admission, hearing and final disposal of the present petition, this Hon'ble Court be pleased to stay and suspend the operation and implementation of the orders dated 27.8.2013, 22.10.2013 and 23.10.2013 passed by the respondent no.1 in the Securitization Application No.77 of 2013 at Annexure