JUDGMENT

A.M. Khanwilkar, J.

These appeals take exception to the impugned judgment and order of the Madras High Court, Madurai Bench dated 10th August, 2007 in Writ Appeal (MD) Nos.145 and 146 of 2007 respectively; whereby, the Division Bench of the High Court dismissed the writ petitions filed by the appellants praying for setting aside of notice issued by the respondent bank in exercise of powers under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, "2002 Act") dated 14th November, 2005 and the consequent public notice dated 15th November, 2005 for sale of the subject property, the public auction conducted in furtherance thereof on 19th December, 2005, declaration of respondent No.3 as the highest bidder in the said public auction and the sale certificate issued in his favour dated 6th January, 2006.

2. Briefly stated, in 2003, Shri P. Shahul Hameed and Smt. Shakeena (appellants/borrowers) were sanctioned a term loan of Rs.10 Lacs each under Star Mortgage Loan by the respondent bank. The accounts became NPA (Non-Performing Assets) from 30th June, 2004. As there was default in re-payment, the respondent bank issued