How to recover partitions accidentally formatted by Windows Server Backup?

I am using Windows Server 2008 R2. I have two hard disks attached. The second hard disk contained two partitions (E and F). While running the Windows Server Backup I gave the path to backup the primary partition (C) on a schedule to one of the above partitions.

The backup schedule was running successfully until today I manually run the scheduled backup. I was shocked to see the message "Formatting..". Suddenly both the partitions of the other drive were lost. I could see Windows Server Backup merged the two partitions and created a dedicated backup partition.

Is there a way to recover those lost partitions?