JUDGMENT

(Prayers: Petition filed under Article 227 of the Constitution of India against the order dated 05.06.2023 passed in I.A.No.53 of 2023 in AIR (SA) No.462 of 2022 on the file of Debts Recovery Appellate Tribunal, Chennai.

Petition filed under Article 227 of the Constitution of India against the order dated 05.06.2023 passed in I.A.No.50 of 2023 in AIR (SA) No.461 of 2022 on the file of Debts Recovery Appellate Tribunal, Chennai.)

Common Order:

1. We have heard Mr.Srinath Sridevan, learned senior counsel for the petitioners; Mr.M.L.Ganesh, learned counsel for the first respondent; Mr.Imayavarambhan, learned counsel for the second respondent; Mr.K.S.Karthick Raja, learned counsel for the third respondent and Mr.A.M.Esakkiappan, learned counsel for the fourth respondent.

2. The petitioners herein had filed Securitization Applications challenging the possession notice and the sale before the Debts Recovery Tribunal, Coimbatore. The petitioners claim to be guarantors.

3. The petitioners had filed appeals before the Debts Recovery Appellate Tribunal, Chennai against the orders of the DRT. The DRT directed the petitioners to deposit Rs.9,47,25,692/- [Rupees Nine Crore Forty Seven Lakhs