M.R. Shah, J.—Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Commercial Court, Vadodara dated 29.09.2016 passed below Exh.1 in Commercial Civil Suit No. 275 of 2016, by which, the learned Commercial Court has dismissed the said suit on the ground that the same is vexatious and frivolous, the original plaintiffs have preferred the First Appeal.

2. That the original defendant no.1 is public financial institution and the original defendant no.2 is assets reconstruction company. The proceedings were initiated by the defendant nos. 1 and 2 under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act”), against the plaintiffs for huge sum of dues payable by the plaintiffs. The proceedings against original plaintiffs for recovery of remaining loan amount was also filed by the defendant no.1 company before the DRT, Ahmedabad. That the proceedings under the SARFAESI Act were challenged by the plaintiff no.2, before the Bombay High Court. The original plaintiff no.2 also filed Securitization Application No. 95 of 2015 against th