attachment till the disposal of the suits, but the learned I Additional District Judge, Erode had dismissed the said applications vide order dated 05.01.2022 by holding that the submission made by the petitioners that 'the petition mentioned property is the only property owned by the respondent' is not at all acceptable and also when the petition mentioned property has already been mortgaged by the respondent to the Tamil Nadu Mercantile Bank Limited, even prior to the date of loan on 15.03.2020, then the petitioners cannot claim that there is no encumbrance over the petition mentioned property because in case of default in repayment of loan by the respondent, then the creditor viz. Tamil Nadu Mercantile Bank Limited would proceed against the respondent under the provisions of SARFAESI Act 2002. So, if another attachment over the petition mentioned property is created before judgment, as stated by the petitioners, then it would result in a circumstance where at the time of auction of the petition mentioned property, the proposed buyer would hesitate to purchase the said property and also the interest of creditor viz. Tamil Nadu Mercantile Bank Limited would be affected. Therefore, the learned I Additional District Judge, Erode dismissed the interlocutory applications filed by the petitioners.
