JUDGMENT

Rajarshi Bharadwaj, J.—By this appeal, the correctness of the order of the learned Single Judge dated 04.03.2022 passed in W.P.A. No 28021 of 2014 (Joy Kali Industries Pvt. Ltd. -versus- Union of Indian and Others) has been questioned by the appellant/writ petitioner.

2. The facts of the case are that the appellant/writ petitioner is a company registered under The Companies Act, 1956. The appellant had taken a loan from the respondent no. 2, i.e., United Bank of India now Punjab National Bank.

3. On 05.04.2007 the respondent no.4 herein the Branch Manager of the said Bank communicated to the appellant regarding the modified terms of compromise settlement of the loan amount. Subsequently, the loan was taken over by AEREC (India) Ltd. being the respondent No. 12 from the respondent No. 2. As the compromise failed, on 10.01.2021, AEREC (India) Ltd. being the respondent no. 12 took physical possession of the assets of the appellant with the help of the police assistance of Memari Police Station owing to the default in making payment of the loan. The entire incident took place in the presence of the Executive Magistrate being the respondent no. 9 in terms of the order passed und