Budihal R.B., J.

These applications are filed by the applicants under Rule 6 read with Rule 9 of the Companies (Court) Rules, 1959.

2. C.A. No. 54 of 2016 is filed by the applicants praying the Court to set aside the judgment dated 22-12-2003 passed by the Debts Recovery Tribunal in O.A. No. 872 of 1999, which is produced at Annexure-C, and also to set-aside the orders dated 27-5-2015 and 24-6-2015 passed by respondent no. 2 in DCP No. 3096 of O.A. No. 872 of 1999 produced at Annexure-F, as they are nonest, illegal and arbitrary.

3. C.A. No. 55 of 2016 is filed by the applicants to stay the execution/recovery proceedings in DCP No. 3096 of O.A. No. 872 of 1999 pending before the respondent no. 2.

4. Looking to averments made in both these applications, the said averments are one and the same, therefore, both these applications are taken together to dispose of them by this common order.

5. The facts in brief as pleaded by the applicants are that, M/s. Cauvery Papers Limited (In Liqn.) i.e., respondent no. 1 herein had borrowed a term loan of Rs. 305 Lakhs from IDBI, IFCI and ICICI on 8-9-1982 and further loans of Rs. 28.80 Lakhs and Rs. 34 Lakhs on 27-3-1985 and 9-11-1987 respecti