ORDER

1. Aggrieved against the order of the Learned Presiding officer, DRT-II, Chennai dated 27.11.2009 passed in SA No.119/2008, appellants, who lost their case before DRT, filed this appeal under Section 18 of the SARFAESI Act.

2. Brief facts leading to filing of aforesaid SARFAESI application are that, appellants are the joint owners of the property concerned in this case, by virtue of purchase from one Akbar Ali and Ms. Jarina Begam for a valid consideration through registered Sale Deed dated 16.6.2006. Possession Notice dated 17.10.2008 was pasted on the outdoor of the appellants’ premises. Appellants came to know from the notice that one Mr. T.M. Varardharajan and Smt. Mahalakshmi availed loan from the erstwhile respondent bank viz., Dena Bank and Mr. E.T. Balaraman was the guarantor for the loan so availed. The borrowers had obtained loan facilities from the respondent bank on the basis of some bogus documents. Appellants on the basis of their title deeds availed loan facility from the Bank of Maharashtra. When appellants have valid right and title over the subject property, sale of the property by the first respondent bank to the second respondent on the basis of proceeding