Anand Byrareddy, J.

1. These petitions are heard and disposed of by this common order, as the question of law that arises for consideration is identical.

2. In the writ petition bearing WP No. 22348/2015, the facts are as follows:

"The first respondent, an asset reconstruction company, is said to have issued a public notice dated 11.1.2014, inviting bids for the sale of immovable property, under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Hereinafter referred to as the 'SARFAESI Act', for brevity). The said property was a security asset, namely, non-agricultural land bearing No. RS 21, Khata No. 3681, Mathadakurubarahatty, Pune-Bangalore Highway, Chitradurga taluk. The reserve price was at Rs. 7.5 crore."

The tenders were said to have been opened on 24.1.2014. The petitioner was said to be the highest bidder at Rs. 8.01 Crore. The bid was said to have been accepted and the petitioner was called upon to pay 25% of the bid amount. The petitioner is said to have paid the amount. The sale was endorsed in favour of the petitioner and was told that it would be confirmed after further directions from the De