Applicants have filed multiple Writ Petitions before Hon'ble High Court at Calcutta. Hon’ble Calcutta High Court while delivering judgment in CO No. 592 of 2012 by the applicants has observed that SARFAESI proceedings initiated against the applicants are in accordance with law. It was further observed that demand notice and possession notice including DM order for taking over physical possession are all issued strictly in accordance with law. Applicants were given opportunity to redeem their property, but to no avail. Impugned property was sold to respondent no.3 and subsequently respondent no. 3 sold the property to respondent No.4, both are impleaded as party respondent. Therefore, merit of the main S.A. has already been decided by Hon'ble High Court at Calcutta, Only questions remain to be adjudicated is whether respondent bank is entitled to adjust remaining balance of the sale proceeds towards outstanding amount in credit card of applicant no.2 and expenses relates to legal and other expenses and whether respondent bank is directed to return the inventories or value of the inventories as per valuation report. 3. In view of the judgement delivered by Hon'ble Calcutta High Court in the writ petition filed by the applicants, this Tribunal is of the opinion that Impugned demand notice, possession notice and auction sale process are all considered by Hon'ble High Court and they are according to Act and Rules of 2002 and further judicial scrutiny of those statutory notices does not call for. It is on record that total fund received from the auction sale was Rs. 35.25 lakhs and Rs.8.50 lakhs, which comes to Rs.43.75 lakhs and said amount was adjusted towards Housing loan; term loan cash credit and credit card account of applicant no.2 and legal and other expenses. It is on record that credit card account Rs.6,83,183.00 and legal and other charges Rs.97,295.00 were adjusted. 4. Section 2(ha) of SARFAESI Act defines "debt" shall have the meaning assigned to it in clause (g) of section 2 of the DRT Act, 1993 and includes unpaid portion of the purchase price of any tangible asset and or any right title or interest on any tangible asset. Section 2(g) of DRT Act, 1993 defines debt means any liability (inclusive of interest) which is claimed as due from any person by a bank or a financial institution or by a consortium of banks or financial institution or the consortium under any law for the time being in force, in cash or otherwise, whether secured or unsecured, or assigned on whether payable under a decree or order of any civil court or any arbitration award or otherwise or under a mortgage and subsisting on,and legally recoverable on, the date of the application, Section 2 (1) of SARFAEST Act defines financial asset means debt of receivables and includes (1) a claim to any debt or receivables or part thereof, whether secured or unsecured: or (ii) any debt or receivables secured by, mortgage of or charge on, immovable property; or (iii) a mortgage, charge. hypothecation or pledge of movable property; or (iv) any right or interest in the security, whether full or part underlying such debt or receivables, or (v) any beneficial interest in property, whether movable or immovable, or in such debt, receivables, whether such interest is existing, future, accruing conditional or contingent; or (vi) any financial assistance:
