ORDER :

The appellant – M/s Chem Solar Energy System Private Limited (hereinafter referred to as “the borrower”) in Civil Appeal No. 9593 of 2010 is the borrower whereas the appellant in Civil Appeal No. 9594 of 2010 is the Karnataka State Financial Corporation (hereinafter referred to as “the Corporation”). Both the appellants are aggrieved by the order dated 9th January, 2009 passed by the Division Bench of the High Court of Karnataka in Writ Appeal No. 679 of 2008. The Division Bench of the High Court, by the impugned judgment and order, has set aside the order of the learned single judge of the High Court dismissing the writ petition filed by the purchaser – respondent No. 3 – M/s Sri Lakshminarayana (hereinafter referred to as “the third respondent”) seeking interference with the actions of the Corporation in cancelling the sale made in favour of the purchaser and ordering a fresh auction. The core facts which are required to be noticed may be briefly enumerated hereunder.

2. In respect of unpaid dues of the borrower (appellant in Civil Appeal No. 9593 of 2010) the secured properties were put up for auction. Three earlier auctions did not yield any positive result. In the fourth