(1.) The petitioners are before this Court seeking the following prayers:
(2.) Heard Sri.N.N.Damodar, learned counsel appearing for petitioners, Sri.B.V.Krishna, learned Additional Government Advocate appearing for respondents 1 to 3 and Sri.T.N.Gopalagowda, learned counsel appearing for respondent No.6.
(3.) The issue in the lis lies in a narrow compass. Respondent No.4 being the proprietor of one M/s.Balaji Glass and Plywood along with her husband respondent No.5 ('Borrowers' for short) seek certain finances from the petitioner-Bank of Baroda ('Bank' for short). The borrowers default in payment. The Bank institutes proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (' SARFAESI Act ' for short) after having declared the loan of borrowers to be a non- performing asset. After such declaration, it transpires that the 6th respondent files a civil suit in O.S.No.4338 of 2020 in which the borrowers are the defendants and the concerned Court passes an order directing the borrowers not to alienate the property.