A. Muhamed Mustaque, J.

1. Petitioner is a Banking Company engaged in housing finance in Kerala. They have approached this Court aggrieved by attachment on secured assets, created by way of mortgage in favour of the petitioner by the 8th and 9th respondents, to recover the defaulted chitty amount from them due to the seventh respondent-Kerala State Financial Enterprises Ltd. (for short, "KSFE"). The mortgage was created in favour of the petitioner as per the loan agreement dated 22.07.2004. Ext. P1 is the loan agreement. On account of default in repayment of the loan amount by respondents 8 and 9, the petitioner initiated SARFAESI proceedings.

2. The borrowers-respondents 8 and 9 had subscribed a chitty with K.S.F.E. The agreement with K.S.F.E. was on 03.03.2008. Ext. R(7)(a) is the copy of the said agreement. The borrowers also defaulted payment to K.S.F.E. K.S.F.E. initiated revenue recovery proceedings.

3. The only issue in this Writ Petition is whether the initiation of revenue recovery proceedings for arrears of public revenue on land have got precedence over the mortgage right of the petitioner. Admittedly, the mortgage right was created by a contract in the year 2004. T