Markandey Katju, CJ.

All the above writ petitions relate to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Securitisation Act).

2. Various questions of law have been raised in these petitions. By this common judgment we are disposing off all these writ petitions dealing with the points raised in these various petitions. Hence, this judgment will apply to all the above mentioned cases and other cases listed before us, relating to the Securitisation Act.

3. We have heard learned counsel for the parties and have noted their contentions.

4. Before dealing with these contentions we may refer to the decision of the Supreme Court in Mardia Chemicals Ltd. Vs. Union of India, (2004) 4 SCC 311, in which the Supreme Court dealt with the challenge to the validity of various provisions of the Securitisation Act.

5. In Mardia Chemicals Limited Case (supra) it was submitted before the Supreme Court that the Securitisation Act introduces drastic measures for the seizure and sale of properties of the borrowers or taking over of the management or possession of the secured assets. It was submitted tha