The court has the discretion to grant specific timeframes for the deposit of the entire amount in mortgage redemption cases, and may decide to release the property in favor of the petitioners if the specified conditions are not met.

This writ petition has been filed by the petitioners praying for the issue of a writ of certiorari quashing the order dated 25.11.2003 mentioned in the public notice published in the Dehradun edition of daily news paper 'Amar Ujala dated 18.12.2003 (Annexure-1 to the writ petition) and also for seeking a writ of mandamus directing the respondents to invite the petitioners to redeem the mortgage of the said property on preferential basis.

2. Heard Smt. Pushpa Bhatt, learned counsel for the petitioners, Sri Arvind Vashishth, learned counsel for the intervener and Sri Lok Pal Singh, learned counsel for the respondent No.2.

3. The award has been made against Nakul Singh guarantor, whose property has directed to be sold in auction proceeding. Sri Nakul Singh has filed a writ petition bearing Writ Petition No. 1124 of 2003 which has been disposed of with the observations that auction may proceed as the award has not been challenged by the judgment debtor.

4. In our judgment dated 22.12.2003, we have granted one month's time to Nukul Singh to pay the entire arrears failing which the auction proceeding were to be initiated.

5. The petitioner has filed this writ petition with a prayer that the petitioner is ready to deposit the entire amount. Since he is in possession of the property as licensee, therefore, the property in question shall not be sold and the sale deed be released in his favour as he is a lessee under the mortgage deed.

6. Having considered the interest of the parties and in view of our order dated 22nd December 2003 in writ petition no. 1124 of 2003, if Sri Nakul Singh fails to deposit entire amount i.e. of Rs. 1,67,00,000/- (Rs. One Crore Sixty Seven Lacs) within a month, the property shall be released in favour of the petitioners.

7. If the petitioners deposit the amount within fifteen days after expiry of one month from 22nd December 2003, the same amount which has been directed to be deposited by Sri Nakul Singh, the property shall be released in favour of the petitioners.

8. In case Nakul Singh fails to deposit Rs. 1,67,00,000/- within one month from 22.12.2003 and the present petitioners also fail to deposit within 15 days thereafter, the Bank shall proceed for the auction in view of our judgment dated 22.12,2003.

9. If auction is required to be held on account of failure of writ petitioners, the minimum sale proceeds of the property amounting to Rs. 1.,67,00,000/- shall be shown in the proclamation of auction.

10. With the aforesaid observations the writ petition is disposed of.