above. We agree with the contention of learned counsel for Respondent ED that collusion of the officials/management of bank with the mortgagors Mayfair Leisures Pvt. Ltd. and Directors of M/s DPIL is not ruled out. However, this issue needs to be decided by learned Special Judge, PMLA Court, whether the appellant bank was part and parcel of any conspiracy for sanctioning and releasing the loan without due diligence, or by overvaluation of the mortgaged properties. However, being a secured mortgagee of the aforementioned property, the appellant bank is at liberty to stake its claim before learned Special Judge, PMLA Court, u/s 8(5) to section 8(8) of the PMLA, 2002, with notice to the other secured and unsecured creditors and after seeing the role of present appellant for colluding with accused M/s DPIL and its Directors for releasing loan against the norms, if any. Ld. Special Judge, PMLA Court can also entertain the application for auction of the mortgaged properties even before the conclusion of trial, u/s 8(7) of PMLA is filed by the Consortium of banks for auction sale and the proportionate distribution amongst them as per the respective outstanding liabilities of the borrowers/guarantors, with condition that any excess amount (if any) after realization of outstanding liabilities will be kept by way of FDR in the name of ED, for disposal as per final outcome of the trial in the PMLA case.
