SATISH K. AGNIHOTRI, J.

1. Both the instant writ petitions arise from the common order dated 23.07.2012 passed by the Chief Judicial Magistrate, Vellore (for short the CJM) in Crl. M.P. No. 864 of 2012.

2. The facts in nutshell are that the respondents 3 and 4 borrowed loan to the tune of Rs. 22.82 crores from the respondent bank against movable and immovable properties pledged/mortgaged as secured assets in favour of the respondent bank. When the borrowers became defaulters, the respondent bank classified the secured assets as Non Performing Assets as on 31.12.2011. Thereafter, a demand notice was issued on 30.03.2012 under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short the Act, 2002) to the borrowers and guarantors, i.e., the petitioners also. No payment was made as statutorily required within 60 days from the date of the said notice. However, a representation was made under Section 13(3-A) of the Act, 2002, on 24.04.2012. Thereafter, a notice under Section 13(4) of the Act, 2002 was issued on 18.06.2012, wherein, symbolic possession of the secured assets was effected. An Original Applica