The first petitioner had availed a loan from the respondent bank. The second petitioner is a surety to the said loan transaction. The loan was also secured by a mortgage of an item of immovable property belonging to the second petitioner. When the petitioners defaulted the repayment of the loan, the bank instituted arbitration proceedings wherein an award was passed on 2.9.1997. When the award was not satisfied, the bank filed E.P.No.16 of 2009 in the Court of the Additional Munsiff of Cherthala. In that execution petition, the mortgaged property was brought to sale and sold on 25.8.2011 and purchased by the bank for the sum of Rs.2,50,800/-. The petitioners thereupon filed E.A.No.382 of 2011 under order XXI rule 90 of the Code of Civil Procedure to set aside the sale and that application was dismissed by Ext.P1 order passed on 14.11.2012. Aggrieved thereby, the petitioners have filed C.M.A.No.28 of 2012 in the Court of the Subordinate Judge of Cherthala accompanied by an application to condone the delay of 16 days in filing the appeal. In