Hemant Gupta, J.

The challenge in the present writ petition is to an order passed by the Debts Recovery Appellate Tribunal (for short 'the Appellate Tribunal') on 02.07.2014 (Annexure P-20) as well as sale notice dated 22.01.2013 said to be in contravention of the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short 'SICA Act'). The petitioner availed financial assistance from respondent No. 2 i.e. Punjab State Industrial Development Corporation (for short 'the Corporation') as well as from State Bank of India and Small Industrial Development Bank of India (for short 'SIDBI'). The loan share of the Corporation was 12.78%; share of State Bank of India was 76.13% and that of SIDBI was 11.09%. The petitioner was declare a sick Company on 04.02.2002 and State Bank of India was appointed as an Operating Agency. The draft Rehabilitation Scheme was circulated for revival of the Company on 02.06.2009. At that time, the total amount due to respondent No. 2 from the petitioner was Rs. 4.5 crores. The petitioner was required to pay a sum of Rs. 1 crore against the principle outstanding towards respondent No. 2 i.e. Rs. 44.30 lacs as part of the Rehabi