1. The petitioner (State Bank of Patiala) agreed to provide financing facilities to Navin Wire Products (Private) Ltd., Sultanpur Road, Kapur, thala (respondent No. 4), on December 20, 1972, as under. :

(i) Cash credit facilities in the sum of Rs. 2,50,000.

(ii) Demand drafts purchase facility (under which the petitioner would purchase bills drawn by respondent 4 on its customers) up to Rs. 1,50,000. and

(iii) Overdraft facility to the extent of Rs. 1,00,000, and made various advances to respondent 4 on the basis thereof.

2. In order to secure the advances to be taken by respondent 4, Narinder Kumar Anand (respondent 5) equitably mortgaged his land by deposit of title deeds. He was also a partner in the firm, " Messrs. H. L. Anand and Sons, Kapurthala", respondent 6. Income-tax arrears from that firm and from respondent 5 himself were due for the assessment years 1965-66 to 1969-70. The Tax Recovery Officer (respondent 2) sent a letter dated July 21, 1973, to the petitioners branch at Kapurthala, calling upon it to i produce before him the original title deeds of the property mortgaged with the bank and to inform him about the balance of the loan due from respondent 4 as on