JUDGMENT

Rajesh Bhardwaj, J. - Instant petition has been filed by the petitioners praying for the issuance of a writ in the nature of Certiorari for quashing the letter dated 16.8.2017 bearing no. SARB/IB/329 (Annexure P-8) and further for the issuance of a Writ of Mandamus commanding respondents no.1 to 4 to comply and act upon the letter bearing no. SARB/IB/817 dated 27.2.2017 (Annexure P-7). It has been further prayed that during the pendency of the present petition the respondents be restrained from confirming the sale as well as not to change the nature of the property auctioned i.e. plot no.9 measuring 695 sq. yards comprised in Khasra No.54//25/1, 57//5/1, khata no.566/587, 567/588 situated at Dhandari Kalan, Ludhiana and plot bearing no.9 measuring 100 sq. yards bearing Khasra No.25/1, Khata no.294/334 as mentioned in the jamabandi for the year 1981-82 situated at Dhandari Kalan, Ludhiana.

2. As per the facts narrated in the petition, respondent no.3 i.e. State Bank of India Branch Link Road, near Cheema Chowk, Ludhiana advanced a financial assistance i.e. cash credit (Hypothecation) amount limit of Rs.4,60,000/- (Rs. Four Lacs and Sixty Thousands only) cash credit and Rs.12,