Hon’ble Tarun Agarwala, J.—The petitioners’ have established an education institution and, for this purpose, the petitioner No. 1 has availed certain credit facilities from the respondent-banks through multiple banking arrangement, namely, from Punjab and Sind Bank, Allahabad Bank, Oriental Bank of Commerce and Dena Bank. Credit facilities was sanctioned by the respondent-banks by way of hypothecation charge on the current assets, other fixed assets in favour of the banks. Credit facilities so granted was also secured by way of equitable mortgage of immovable properties. The credit facilities so sanctioned by the banks have been utilized for the development of the University and other colleges. On account of expansion of their project, certain cash flow problems arose for petitioner No. 1 presumably on account of expenses incurred towards infrastructure development. The petitioner No. 1, accordingly, could not repay the loan amount as per the schedule of payments. The Reserve Bank of India (RBI) framed certain guidelines to protect the interest of the banks where a loa