D.A. Mehta, J.—As both the petitions challenge a consolidated order dated 06/01/2009 made by Respondent No. 1 - authority in Case Nos.37 of 2008 and 38 of 2008 both the petitions have been heard together and are taken up for disposal together by this common order. For the sake convenience the facts, to the extent necessary, are taken from Special Civil Application No. 4563 of 2009.

2. The petitioner availed of financial assistance from Respondent No. 2-Bank for business purpose. As the petitioner was not able to discharge the outstanding liability within the specified period action has been initiated by Respondent No. 2-Bank under provisions of the Securitization and Reconstruction of Financial assets and Enforcement of Security Interest Act, 2002 (the Securitization Act) and Rules made thereunder. It is the case of the petitioners that in response to notice under Section 13 (2) of the Securitization Act the petitioners approached Respondent No. 2-Bank and referred to the proposal to settle the account. Admittedly no representation / objections as required by provisions of Section 13 (3A) of the Securitization Act had been filed by the petitioners. Respondent No. 2-Bank ther