JUDGMENT :

Ananya Bandyopadhyay, J.

1. The instant revisional applications are filed by the petitioners praying for setting aside of the orders dated 28.06.2011 and 01.07.2011 passed by the Learned Chief Judicial Magistrate, Barasat in Miscellaneous Case No. 88/2011 and Miscellaneous Case No. 92/2011 respectively under Section 14 of the SARFAESI Act,2002.

2. Petitioner company approached the Respondents no. 2 and 3 for availing cash credit facility for its business purpose and the Respondents after going through the formalities sanctioned cash credit limit up to Rs.5/-crores as working capital in the month of January 2009 on the terms and conditions of the sanction letter dated 14.01.09.

3. The terms and conditions of the said facility required equitable mortgage of several land and buildings in the name of the company or its directors particularly described in the sanction letter dated 14.01.09. It also required Hypothecation of Stock and book debts and pledge of Rs.20 lakhs.

4. After sanction of the said facility, the company transacted in the loan account for repayment of the said loan to considerable extent to the respondent bank.

5. On several occasions the petitioner company reque