The secured creditor Industrial Development Bank of India, Chennai obtained a decree on 21.11.2001 against the debtor Rajalakshmi Mills Limited, Singanallur, Coimbatore in O.A. No. 91 of 2000 from the Debt Recovery Tribunal-I, Chennai. As the debtor failed to pay the amount, the Recovery Officer brought the mortgaged property in an extent of 20 acres 87 cents of land situated at Uppilipalayam village, Coimbatore District for sale in D.R.C. No. 79 of 2002. In that sale, one Ramajeyam, the fourth respondent in W.P. No. 25636 of 2004 has knocked down the property for a sum of Rs. 15.08 crores. The said auction purchaser deposited 25 percent of the amount on the date of sale on 30.8.2004 and balance amount of Rs.11.31 crores on 30.9.2004 as per the terms of the sale notice. While that being so, on 7.9.2004, writ petition in W.P. No. 25635 of 2004 was filed by Times Guarantee Limited seeking for the relief of writ of mandamus forbearing the second respondent - the Recovery Officer, Debt Recovery Tribunal-I, Chennai, from proceeding against the properties set out in the auction sale notice in D.R.C. No. 79 of 2002 by arraying the Industrial Development Bank of India, the Recovery Of