JUDGMENT

1. The two writ petitions are assailing the final order dated 31.08.2021 passed by the Debts Recovery Appellate Tribunal (DRAT), Delhi in Appeal No. 123/2020 titled as "Sh. Jagmohan Singh Arora & Ors Vs. Indiabulls Commercial Credit Ltd. & Ors.", W.P.(C) 10164/2021 has been preferred by Pahwa Buildtech Pvt. Ltd. i.e., the Auction Purchaser and W.P.(C) 11080/2021 has been preferred by Indiabulls Commercial Credit Ltd (the financial institution) i.e., the Secured Creditor. Both the petitions are challenging the same order on mostly overlapping issues, and hence are being dealt with by this common judgment.

2. The substantial prayer in W.P.(C) 10164/2021 reads as under:

a) "Pass a writ of certiorari or any other appropriate writ, order or direction thereby quashing/setting aside the Final Order dated 31.08.2021, passed by the Ld. DRAT in Appeal No. 123/2020, titled as "Sh. Jagmohan Singh Arora & Ors. Vs. India Bulls Commercial Credit Ltd. & Ors.", and consequently, restore the Final Order dated 01.12.2020, passed by the Ld. Presiding Officer, DRT-III, Delhi, in S.A. No. 72/2019, titled as "Mr. Jagmohan Singh Arora & Ors. Vs. India Bulls Commercial Credit Ltd. & Ors.", along