Hon’ble Sabhajeet Yadav, J.—Heard Sri U.K. Saxena, learned counsel for the petitioners and learned Standing Counsel for State-respondents.

2. The brief facts leading to the case are that Punjab National Bank advanced some loan to one M/s M.L. Pharm and to advance the said loan the bank obtained security document as well as guarantee and Smt. Vimla Tyagi created an equitable mortgage of property of Khasra Plot No. 327 area 2 bighas, 13 biswas and 6 biswansis situated in village Shahpur, District Ghaziabad as security by depositing the original title deed. It appears that the borrower defaulted in repayment of financial facility provided by the said bank hence an Original application No. 14 of 2000 was filed by the Bank before the Debt Recovery Tribunal which was ultimately allowed and Recovery Certificate was issued. In pursuance of the said Recovery Certificate the Recovery Officer held an auction of the aforesaid property of borrower in which the petitioners offered highest bid to the tune of Rs. 2,60,000/-, which was accepted by Recovery Officer vide his order dated 3.7.2003 and a sale certificate was issued by Recovery Officer of the Debt Recovery Tribunal-II, Delhi on 5