ORDER :

1. Heard Sri E. Venkata Siddhartha, learned counsel appearing for the petitioner, Sri M. Vijaya Kanth, learned counsel appearing for respondent Nos. 1 and 2 and Smt. V. Dyumani, learned counsel appearing for respondent Nos. 3 to 5.

2. According to the petitioner, she joined as a Managing Director of the M/s. Progressive Constructions Limited and it was incorporated in the year 1981. She resigned on 07.04.2016 and there are no cases including criminal cases pending against the petitioner. There is no investigation initiated by the Enforcement Directorate under the Provisions of Prevention of Money Laundering Act. However respondent No. 3 bank had already filed an application vide O.A. No. 459 of 2016 against M/s Progressive Construction Limited and the petitioner for recovery of an amount of Rs.287,26,89,506.79 ps and a certificate dated 13.11.2018 was issued by the Debts Recovery Tribunal-I, Hyderabad.

3. Perusal of the record would also reveal that the said company has approached respondent No. 3 bank by way of submitting OTS proposal and the same was accepted by the Bank for an amount of Rs.1,21,00,00,000/- vide proceedings dated 14.12.2022. In the said letter itself, it is