JUDGMENT :

(Prayer: Writ petition filed under Article 226 of the Constitution of India praying for issuance of a Writ of Mandamus calling for the records relating to the order dated 21.12.2020 passed in TIIC/Erode.FU/2020-2021 on the file of the first respondent herein and to quash the same as null and void, and forbearing the respondents from proceeding in any manner against the petitioner in respect of the land to an extent of 11216 ½ Sq.Ft., in Survey No.362/5 in Vellakovil Village in Kangeyam Taluk in Erode District.)

1. This writ petition has been filed challenging the action taken by the respondent Corporation bringing the subject property for auction sale pursuant to the notice issued to the partnership firm; the petitioner and other partners on 19.10.2020 and to forbear the respondents from proceeding further.

2. The case of the petitioner is that the partnership firm namely, M/s.Ranga Woolen Spinners sought for financial assistance from the Tamil Nadu Industrial Investment Corporation Limited (TIIC). The Corporation extended financial facilities to the partnership firm. At the time when the loan was paid to the firm, a mortgage deed was entered into on 25.03.1992 and the subj