JUDGMENT :

NIKHIL S. KARIEL, J.

1. Present Letters Patent Appeal arises from the judgment dated 12.04.2018 passed by the learned Single Judge in Special Civil Application No.16833 of 2016, whereby the learned Single Judge has been pleased to dismiss the said writ petition on the ground of availability of alternative remedy under Section 17 of the SARFAESI Act. Two questions arise for our consideration, namely; (a) whether remedy under Section 17 is an efficacious remedy in the fact situation and (b) whether the respondent – Dena Bank – now Bank of Baroda was legally empowered not to release the charge over the immovable property mortgaged with the respondent bank in view of the fact that the entire dues in lieu of the loan accounts have been repaid and the respondent bank has already returned the title deeds of the property in question.

2. Brief facts, which are relevant for the purpose of deciding the present appeal, are as under :

2.1 The appellant – petitioner No.1 is a Private Limited Company incorporated under the provisions of the Companies Act, 1956 and whereas the appellant No.2 herein was the guarantor for the loan availed by the appellant No.1 from the respondent bank. The re