AJAY TEWARI
Aastha Trading Company – Appellant
Versus
State of Punjab – Respondent
Ajay Tewari, J. - This judgment will dispose of 3 writ petitions, bearing CWPs Nos. 16657 of 2005, 310 of 2007 and 13848 of 2007 since common questions of law and fact are involved therein.
2. The petitioner is an auction purchaser of mortgaged property of the respondents No. 4 and 5 which was sold by respondent No. 7 under the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest, Act, 2002 (hereinafter referred as the 2002 Act) for a consideration of Rs. 4.00 crores. Subsequently, it transpired that various other agencies were seeking to claim amounts due to them from the aforesaid respondents No. 4 and 5 by enforcing their respective charge/s against the same property. In CWP No. 16657 of 2005, the claims relate to arrears of workmens dues respondent No. 6. The Director of Industries and Commerce, Punjab was impleaded through its application as respondent No. 8 vide order dated 7.8.1986. The said respondent claimed that respondent No. 4 also owed certain amounts to it and that respondent No. 7. Bank should pay the amount of Rs. 4,55,000/- due to it for a separate loan raised by respondent No. 4. Similarly, the Taxation Department wa
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