- (1.) Present writ petition is filed against the order dated 27.10.2009 passed by the learned Debt Recovery Tribunal, Delhi, vide which the petitioners are directed to deposit 50% of the amount mentioned in the notice issued by the bank under Section 13 (2) of the SARFAESI Act, minus the future interest and pendente lite interest or costs of the case.
(2.) The petitioners had sought review of this order and the review petition has also been dismissed by the Tribunal vide order dated 12.9.2012. That order is also assailed in the present writ petition.
(3.) To recapitulate the facts, one R.P.Goel, predecessor-in-interest of the petitioners herein, had furnished a guarantee against the loans which were advanced by the respondent bank to the firm known as "Aggarwal Food Product" (hereinafter referred to as the 'principal debtor'). It appears that the principal debtor did not make payment of the outstanding amounts and for this reason, the respondent bank invoked the provisions of Section 13 (2) of the SARFAESI Act, by serving notice upon the guarantor for sale of the mortgaged property. By the time, this notice was issued, R.P.Goel, had passed away and, therefore, notice was served upon his widow Shail Bala and others, who had inherited the property in question. Shail Bala also died during the pendency of these proceedings and the petitioners are the legal heirs of R.P.Goel and Shail Bala.;