Tarun Agarwala, J.

The petitioner no.1 is a partnership firm in which petitioner nos.2, 3 and 4 are partners. Petitioner no.5 took a loan from Oriental Bank of Commerce against collateral securities. Petitioner no.5 wanted additional bank limits for a short period for which purpose, petitioner no.5 approached petitioner no.1 and its partners to provide collateral security. The partners of petitioner no.1 apparently agreed to provide additional security and bank guarantees to petitioner no.5. Accordingly, in 2011 the cash credit limit of petitioner no.5 was enhanced upon mortgaging the property of petitioner no.1 situate at B-60, Sector 57, Noida and upon furnishing guarantees by its partners. In 2012, one of the partners of petitioner no.1 died. The surviving partners of petitioner no.1 decided to wind up the firm and requested petitioner no.5 to return their guarantees and release the mortgage on the property. Petitioner no.5 accordingly, wrote a letter to the Oriental Bank of Commerce on 22nd June, 2015 requesting for substitution of the mortgaged property and for release of the property of petitioner no.1.

2. The Oriental Bank of Commerce accepted in principle the substi