S.J. Mukhopadhaya, J.

In both these cases as common order dated 9th April, 2007, passed by the Debt Recovery Tribunal – II (hereinafter referred to as DRT), Chennai, in S.A. Application No.158/07 is under challenge, they were heard together and are disposed of by this common judgment.

2. The first petitioner of W.P. No.21096/07, M/s.Ramco Super Leathers Ltd., a company registered under the Companies Act, 1956, (hereinafter referred to as Company), is the borrower, who had taken loan from the first respondent, UCO Bank (hereinafter referred to as the Bank), who is the petitioner of connected CRP No.1184/07. Petitioners 2 to 5 of W.P. No.21096/07 are the guarantors before the bank for loans given in favour of the first petitioner-company. The account of the company with the bank was classified as non-performing asset. Therefore, after notice u/s 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, (hereinafter referred to as the SARFAESI Act) issued on 9th May, 2003, the bank took measures u/s 13 (4) of the SARFAESI Act on 15th Dec., 2004.

3. O.A. No.127/03 was filed by the Bank before DRT, Chennai, against th