NAJIMUDEEN Vs. SOUTH INDIAN BANK LTD

JUDGEMENT

(1.) HEARD the learned counsel for the petitioners and the learned Standing Counsel appearing for respondents 1 and 2.

(2.) PETITIONERS claim to have purchased a property owned by the 3rd respondent which was mortgaged to respondents 1 and 2. It appears that the 3rd respondent committed default and accordingly SARFAESI proceedings were initiated against the property. Although at that stage, petitioners have approached the Debt Recovery Tribunal by filing S.A.683/2010, and that application was dismissed as not pressed as per Ext.P2 order. It is thereafter, that this writ petition has been filed with a prayer to grant them an instalment facility to discharge the liability of the 3rd respondent.