1. The petitioner in WP(C).No.27021/2010 is a Public Limited Company incorporated under the provisions of the Companies Act 1956, carries on business inter alia in manufacturing medical equipments in the field of cardiology, patient monitoring, imaging etc (hereinafter referred to as the petitioner company). They are also manufactures of Printed Circuit Boards and alkaline Batteries. The company claims to be providing employment to about 1200 persons, directly and indirectly. The factory of the petitioner company is located at Palakkad in Kerala. The petitioner in WP(C).No.25000/2010 is a trade union registered under the provisions of the Trade Unions Act 1926, representing workers of the petitioner company.

2. The challenge in these writ petitions is against proceedings initiated under section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act) by M/s. Pegasus Assets Reconstruction Private Limited (respondent No.1 in WPC.27921/2010 and respondent No.3 in WPC.No.25000/2010) against the assets of the petitioner company.

3. Parties in both these writ petitions are one and the same. The pleadings on facts