1. By these two petitions filed under Article 227 of the Constitution of India, the petitioners have impugned the order dated 20th May, 2013 and the order of condonation of delay dated 17th January, 2012 passed by the learned Divisional Joint Registrar, Co-operative Societies, Mumbai Division, the respondent no. 5 herein thereby allowing the revision application filed by the respondent nos. 1 to 3 and condoning the delay in filing the revision application.

2. By consent of parties, both the matters were heard together and are being disposed off by a common order.

3. Some of the relevant facts for the purpose of deciding these petitions are as under.

4. Writ Petition No. 572 of 2014, is filed by the purchasers of the property known as “Parvati Niwas” consisting of ground plus three floors standing on land ad-measuring 478.68 sq. meters situated at Mahant Road, Vile Parle (E), Mumbai, 400 057. The respondent no. 1 was the borrower and has availed of various facilities from the respondent no. 4 i.e. the National Co-operative Bank Limited. The respondent nos. 2 and 3 are the partners of respondent no. 1. The respondent no. 5 is the Divisional Joint Registrar Co-operative Societies. The respondent no. 6 is the Special Recovery Officer attached to the National Co-operative Bank Limited. The petitioners in Writ Petition No. 572 of 2014 are hereinafter described as the auction purchasers. The respondent nos. 1 to 3 are hereinafter described as the borrowers. The respondent no. 4-bank is described as the lender. The petitioner in Writ Petition No. 650 of 2014 is the lender.

5. The respondent No. 2 i.e. Mr. Hemant Sapale, who is the partner of the respondent no. 1 was the owner of the property known as “Parvati Niwas” described aforesaid. On 3rd September, 1997, the respondent no. 1 applied for certain loan facilities from the said lender. The respondent no. 2 stood as guarantor to the said loan and deposited the title documents in respect of the said mortgage property as the collateral security in favour of the said lender. The borrower had defaulted in making repayment of the loan obtained from the said lender. The lender thus filed recovery proceedings on 26th December, 2000 inter-alia praying for a recovery certificate under Section 101 of the Maharashtra Co-operative Societies Act, 1960 (Said MCS Act) against respondent no. 1 and its guarantor for a sum of Rs. 56,77,016/- with further interest. The Assistant Co-operative Society issued recovery certificate against the said borrowers and guarantors i.e. respondent nos. 1 to 3.

6. Being aggrieved by the said recovery certificate, the respondent nos. 1 to 3 filed a Revision Application No. 212 of 2001 on 4th April, 2001 before the respondent no. 5. The said borrowers also challenged the said recovery certificate by filing Writ Petition bearing no. 2131 of 2001 before this court. This court by order dated 30th April, 2001 directed the Divisional Joint Registrar to treat the deposit of Rs. 5,00,000/- paid by the purchasers towards the compliance of Section 154(2A) of the MCS Act and further directed to deal with the said revision application filed by the borrowers in due process of law. The Special Recovery Officer attached to the lender passed an order attaching the said mortgage property belonging to respondent no. 2 on 2nd May, 2001. On 18th August, 2001 the lender took possession of the said property together with vacant possession of the third floor, which was occupied by the respondent nos. 2 and 3, who are partners of the respondent no. 1.

7. On 1st February, 2002 the Special Recovery Officer conducted an auction in respect of the said mortgage property. On 11th June, 2002, the first revision application filed by the borrowers came to be dismissed by the learned Divisional Joint Registrar. The revision applications filed by the borrowers i.e. nos. 2 of 2001, 47 of 2002 were dismissed on account of the borrowers not depositing 50% of the amount of the recovery certificate unde