JUDGMENT :

[Bhargav D. Karia, J.]

1. Heard party-in-person Mr. Jatin H. Shah – petitioner no.2 and Managing Director of petitioner no.1 company – original borrower and learned advocate Mr. Rushabh R. Shah for respondent no.1 (auction purchaser). Though served, no one appears for respondent no.2 – Bank of Baroda.

2.The petitioner has challenged the order dated 2.07.2019 passed by the Debts Recovery Appellate Tribunal, Mumbai (For short “DRAT”) in Misc. Appeal No.5/2018 filed by respondent no.1-auction purchaser feeling aggrieved by the judgment and order dated 1.11.2017 in Appeal No.4/2013 passed by the Debts Recovery Tribunal-II, Ahmedabad (For short “DRT”).

3. Facts leading to filing of this writ petition are narrated in nutshell as under :

3.1) The long drawn legal battle that has raged over past two decades or so has its genesis in a loan which respondent no.2 bank advanced to the petitioner no.1 company. Loan was advanced on the basis of equitable mortgage of the properties owned by petitioner no.1 company. The borrower having defaulted in the repayment of loan amount, respondent no.2 bank filed Original Application No.300/2001 and 326/2001 against the petitioners for recovery o