- (1.) This writ petition has been filed mainly with two prayers, namely: (i) to issue a writ in the nature of mandamus commanding respondent/opposite party no. 1 namely U.P. Avas Evam Vikas Parishad to demarcate lands measuring 42.45 acres out of 63.45 acres, which are mortgaged so that if at a later date the properties at serial no. 6 as mentioned in Annexure P/1 were to be sold by respondent no. 3, there would be no ambiguity in identifying such properties, and (ii) to command respondent no. 2 to implement his order dated 6th September 2011 within a time frame, preferably, within a period of three months in order to sell the properties at serial nos. 1 to 5 which are also contained in Annexure P/1, and to restrain him from proceeding with the application filed on 20.10.2011 (Annexure P/7) by respondent no.3 till the properties at serial nos. 1 to 5 are not sold.
(2.) Besides, the petitioner company has also made a general prayer for issuance of any other writ, direction, or order(s) as may be deemed fit and proper in the facts and circumstances of the case. Sri Aarohi Bhalla, learned counsel, appearing for the petitioner company during the course of hearing gave up prayer no. 2. Thus, the area of consideration on the petition shall now be confined only to prayer no.1.
(3.) The brief facts giving rise to filing of this petition are that respondent no.3 had taken a loan of Rs.75.07 crores between December 1995 to 1998 from the Housing and Urban Development Corporation Limited, (for short 'the HUDCO'), respondent no.4, a Public Financial Institution. Respondent no. 3 mortgaged its properties with the HUDCO-respondent no.4 in order to secure the loan sanctioned by that financial institution. However, respondent no.3 failed to return/repay the loan amount, therefore, respondent no.4 was compelled to initiate the recovery proceedings before various fora.;