ORDER

(per Justice Sanjay Kumar)

Challenge in this writ petition is to the order dated 22.05.2013 passed by the Debts Recovery Appellate Tribunal, Mumbai, in M.A.No.142 of 2010, holding for the Debts Recovery Appellate Tribunal, Chennai. A consequential direction is sought to uphold the auction sale in favour of the petitioner.

By order dated 20.09.2013, this Court directed the parties to maintain status quo with regard to the property in question. This direction was continued until further orders on 04.02.2014.

Heard Sri Vedula Venkata Ramana, learned senior counsel representing Sri Poosarla Vikram, learned counsel for the petitioner; Sri D.V.Seetharama Murthy, learned senior counsel appearing for Sri K.Mohan, learned counsel for the first respondent; and Sri M.Narender Reddy, learned senior counsel appearing for Sri M.Srikanth Reddy, learned counsel for the State Bank of India, the sixth respondent.

The facts, to the extent relevant, are as follows: The second respondent company obtained a working capital loan to the tune of Rs.3,79,00,000/- from the State Bank of India. Pursuant to the guarantee offered by him for this loan, the first respondent mortgaged Plot No.623/3 admeasuring 15