Heard Sri V.M. Zaidi, learned Senior Advocate, assisted by Sri S.M.G. Asghar, for the petitioners, Sri Anurag Khanna appearing for respondent No.4 and learned Standing Counsel for the State-respondents.

2. These two writ petitions, raising common question of facts and law, have been heard together and are being decided by this common judgment.

3. The Writ Petition No.1952 of 2011 is treated as leading writ petition and for deciding the issues raised, it is sufficient to refer to the pleadings in the leading writ petition.

4. By this writ petition, the petitioners have prayed for quashing the recovery certificate dated 26nd March, 2002/22nd July, 2010 sent by respondent No.4 to the Collector, Ghaziabad for recovery of an amount of Rs.5,43,57,761.68. A writ of mandamus has also been sought commanding the respondents not to make recovery of the amount in dispute from the petitioners and its guarantors by adopting coercive method.

5. Counter and rejoinder affidavits have been exchanged between the parties and by consent of the learned counsel for the parties, both the writ petitions are being finally decided.

6. Brief facts, which emerge from pleadings of the parties, are