JUDGMENT

The issue is covered by the decisions in Housing Development Finance Corporation Vs. Sub Registry Officer [2011 (3) KLJ 561] and the judgment dated 10.01.2014 in WP (C) No. 28728/2013. The attachments in the instant case at the instance of respondents 3 and 4 are after the execution of mortgage by respondents 1 and 2 in favour of M/s. India Bulls Financial Services Ltd. The right of the mortgagee to sell the security interest is not in any way impaired by attachments subsequent to the mortgage.

2. The petitioner relies on Ext.P21 order of the Company Court approving the scheme of amalgamation between the Companies - India Bulls Financial Services Ltd. and India Bulls Housing Finance Ltd. Whether the original mortgagee was a notified institution or not under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act can be assailed by respondents 3 and 4 WP(C) No. 23837/2013 only in a statutory appeal. A remedy lies under Section 17 of the SARFAESI Act to prefer a securitisation application against the conduct of sale by the petitioner company.

3. It necessarily follows that Exts.P19 and P20 sale certificates issued to the auc