VINTAGE FOODS AND INDUSTRIES LTD Vs. KARNATAKA STATE INDUSTRIAL INVESTMENT & DEVELOPMENT CORPORATION LTD

JUDGEMENT

(1.) The petitions are admitted for hearing. With the consent of parties, the same are heard finally.

(2.) In these petitions under Article 227 of the Constitution of India, the petitioners have assailed the validity of the order dated 30.11.2018 passed by the trial Court on an application filed by the petitioners under Order I Rule 10(2) of the Civil Procedure Code, 1908, (hereinafter referred to as "the Code" for short) by which, the prayer sought for impleadment of respondent No.5 has been rejected.

(3.) The facts giving rise to filing of these writ petitions are, the petitioners had obtained a loan from respondent No.1-Bank by creating mortgage of their properties. However, it appears, that the petitioners have failed to repay the amount of loan. Thereupon, the respondent No.1 initiated a proceeding under Section 31 of the State Financial Corporations Act, 1951 (hereinafter referred to as 'the Act' for short) before the trial Court, by which, they sought permission of the trial Court to sell the property which was mortgaged by the petitioners as security for loan.