N.SUBHASH CHAND JAIN Vs. C.RAVINDRAN

JUDGEMENT

(1.) The auction purchaser viz., Subhash Chand Jain and the borrowers viz., Mr.R.Rajasekaran, Mr.R.Rajarajan, Ms.S.Kalpana, Mr.S.Karthick, Ms.D.Abirami and Ms.R.Rajalakshmi, have filed these writ petitions in this Court aggrieved by the order dated 06.09.2019, passed by the 'Debt Recovery Appellate Tribunal' (hereinafter referred to as 'DRAT') in RA (SA) Nos.141 and 143 of 2018. The auction purchaser has filed W.P.Nos.30710 & 30712 of 2019, whereas the borrowers have filed W.P.Nos.28034 & 28036 of 2019.

(2.) We have heard Mr.M.V.Seshachari the learned counsel for the auction purchaser, Mr.S.R.Rajagopal, learned counsel appearing for the borrowers and Mr.N.Rajan, learned counsel appearing for the guarantor, who is respondent No.3 in W.P.Nos.30710 and 30712 of 2019 and respondent No.4 in W.P.Nos.28034 & 28036 of 2019.

(3.) The facts in nutshell giving raise to this litigation are as under: