ARUN TANDON,J. - (1.) These are two writ petitions (being Writ-C Nos. 12494 of 2017 and 12498 of 2017) filed by Kotak Mahindra Bank Limited seeking a writ of mandamus directing the Arbitrator, namely, the District Collector (C.A.L.A.), Ghaziabad to consider and decide Arbitration Case No. 3863 of 2016, Kotak Mahindra Bank Ltd. v. State of U.P. and others , and Arbitration Case No. 3862 of 2016, Kotak Mahindra Bank Ltd. v. State of U.P. and others , respectively within the time to be fixed by this Court.
(2.) Facts in short relevant for deciding the present writ petitions are as under: The respondent no. 6 has an outstanding liability towards the Bank amounting to Rs. 572 crore and odd. The financial assistance provided was secured by way of hypothecation. The respondent no. 6 is said to have committed default in payment of principal as well as the interest amount. The records reflect that even after the settlement between the parties arrived at before the Apex Court in Special Leave Petition (C) No. 35004 of 2011, proceedings under Section 13 (2) of the SARFASI Act, 2002 had to be initiated by the Bank against the respondent no. 6. Proceedings under Section 19 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 are also said to have been initiated. The land, which was mortgaged, was acquired under notification issued in exercise of power under Section 3-A of the National Highways Act, 1956 published on 23.11.2009 followed by a notification under Section 3-A (3) of the same Act published on 5.12.2009. Thereafter, notifications under Section 3-D(1) and 3-G(3) of National Highways Act, 1956 were published on 9.8.2012 and 13.9.2012 respectively in the two newspapers namely 'Dainik Hindustan' and 'The Times of India'.
(3.) The Acquisition Authority awarded a sum of Rs. 25 crore 77 lakh and odd in respect of the village in question. It is stated that the DRT has made a decree on admission for a sum of Rs.133 crore 70 lakh and odd in favour of the petitioner bank. The petitioner Bank being a secured creditor has, therefore, made an application, which has been registered as Arbitrator Case Nos. 3863 of 2016 before the District Collector (Arbitrator), Ghaziabad for enhancement of the compensation of the land which was mortgaged with it. The arbitrator, namely, the District Collector on 16.2.2016 entered upon the reference and issued notice to concerned parties to appear before him on 23.2.2016.;