JUDGMENT :

1. Heard learned counsel for the parties and perused the record.

2. This writ petition has been filed challenging the order dated 18.11.2022 passed in Original Application No. 729 of 2016 (Stressed Asset Stabilisation Fund Vs. M/s Gilt Pack Ltd. And others) by which, application of the petitioner under Order VII Rule 11 of C.P.C. has been rejected by the Debts Recovery Tribunal, Jabalpur (hereinafter referred to as ‘D.R.T. Jabalpur’). The appellate order dated 3.1.2023 in Appeal No.1140 of 2022 (Saurabh Kalani Vs. Stressed Asset Stabilization Fund and others) passed by the Debts Recovery Appellate Tribunal, Allahabad (hereinafter referred to as ‘D.R.A.T., Allahabad’) is also under challenge.

3. Brief facts of the case are that respondent No.1 - Stressed Asset Stabilisation Fund is the assignee of the original lendor IDBI. IDBI granted the financial assistance to the tune of Rs. 7.60 crores to respondent No.2 – Gilt Pack Ltd. Company during the year 1994 -1996. Petitioner is the guarantor to the aforesaid financial assistance granted to the Company on the basis of Deed of Guarantee dated 24.3.1994, 16.11.1994 and 26.9.1996. The Original Application No.729 of 2016 has been fi