Order

Appeal No. 176 of 2008 is filed by the 7^th defendant in Original Application (O.A.) No. 280 of 1997 on the files of the Debts Recovery Tribunal-I, Ahmedabad (D.R.T.) who is aggrieved by the judgment and order dated 25.08.2008 allowing the O.A. and issuing a Recovery Certificate to realise the amount from out of the secured properties under the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (“RDDB & FI Act”, for short).

2. Appeal No. 123 of 2012 is filed by the very same Appellant challenging the order dated 27.04.2012 dismissing Securitisation Application (S.A.) No. 3 of 2012 on the files of the aforesaid D.R.T. filed under the provisions of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (“SARFAESI Act”, for short) by the Appellant.

3. The facts in brief can be encapsulated thus:

The first Respondent Mashreq Bank Ltd. is the Applicant in the aforesaid O.A. The first defendant (second Respondent in the appeals) is a company named Hydron Enviro System Ltd. presently under liquidation and represented by the Official Liquidator, High Court of Gujarat. The company was run by defendants Nos.