JUDGMENT :

1. Heard learned Senior Advocate Mr. Percy Kavina assisted by learned advocate Mr. Nalini Lodha for Bank of Baroda, learned advocate Mr. S.P.Majmudar for the petitioners in Special Civil Application No. 5932 of 2020, learned advocate Mr. A.B.Munshi for the petitioners in Special Civil Application No. 15821 of 2020 and learned advocate Mr. Sandip Bhatt for the respondent-M/s. Sarjay Chemicals Pvt. Ltd.

2. All these petitions are pertaining to the same issue and therefore, the same are heard analogously and are disposed of by this common order.

3. The brief facts of the case are that one M/s. Sarjay Chemicals Private Limited availed financial assistance from the respondent-Bank of Baroda in the year 2015 comprising of term loan of Rs. 650 lakh and cash credit of 100 lakh against the security by way of hypothciation of plant and machinery, stock and book-debts and mortgage of immovable properties being factory land and building situated at GIDC, Phase-II, Dahej, Dist. Bharuch and other properties belonging to the directors of the said company.

4. Bank of Baroda declared the loan account as NPA on 31.10.2018 upon default of payment of installment of term loan and regular payment