ORDER :

M.S. Ramachandra Rao, J.

Petitioner is the Managing Director of M/s Crescent Formulations Pvt. Ltd which Company is engaged in the manufacture and marketing of pharmaceutical formulations.

2. M/s Meena Jewellers Exclusive Pvt. Ltd. and other Companies of the said group (for short ‘the borrowers’) had borrowed loans from the State Bank of India (for short ‘the Bank’), a Public Sector Nationalized Bank.

3. The Stressed Asset Management Branch-II of the said Bank is the 1st respondent in this Writ Petition.

4. Property being Plot No.1 in Sy.No.11/2(p) admeasuring 569 sq.yds situated at Khanamet Village, Serilingampally Mandal and Municipality, Ranga Reddy District belonging to Smt. Hema Jethwani was mortgaged by the borrowers to the Bank. Other properties were also mortgaged to the Bank for securing the loans.

5. The Bank initiated proceedings under the SARFAESI Act, 2002 to recover the dent owed to it by the borrowers.

6. The respondent issued an e-auction notice under the said Act proposing to conduct e-auction of several properties on 29.2.2017 including the above referred property which was mentioned as S.No.1 in the list of open lands at pg 2 of the e-auction notice.

7. Petitione