N.J. JAMADAR, J.

1. These Petitions, under Article 226 and 227 of the Constitution of India, are directed against the common order dated 19.10.2016 passed by the Debts Recovery Appellate Tribunal, Mumbai (hereinafter referred to as “DRAT” for short) in Appeal No. 128 of 2014 and Appeal No. 145 of 2014 whereby both the Appeals, preferred by the Petitioner herein against the order dated 11.02.2014 passed in OA No. 31 of 2010 and order dated 27.03.2014 passed in Securitization Application No. 119 of 2012, respectively, by the Debts Recovery Tribunal, Nagpur (hereinafter referred to as “DRT” for short), were dismissed.

2. As these writ petitions arise out of the common order passed by the DRAT and background facts are also identical, we deem it appropriate to dispose of both these writ petitions by this common judgment and order.

3. For the sake of clarity and convenience, it would be apposite to enumerate the facts in OA No. 31 of 2010 and S.A. No. 119 of 2012, distinctly.

FACTS IN OA NO. 31 OF 2010

(i) The Bank of India, the predecessor in title of M/s. Phoenix ARC Pvt. Ltd. (the Petitioner herein) had extended certain financial facilities to M/s. Sunil Solvent Extraction Limite