Mr.Chinmay Gandhi, learned counsel for the petitioner places reliance on the decision of this Court in case of Kantilal R. Shah v. Central Bank of India [1995(2) GLH 952] in the context of Section 128 of Indian Contract Act, 1872 and submits that surety's liability is coextensive to that of principal debtor and, therefore, filing of Lavad Suit by the petitioner-bank against the guarantor cannot be said to be contrary to law and direction of the Tribunal to delete guarantor and joining other directors of the original borrower is illegal and order of the Tribunal deserves to he quashed and set aside.
However, learned counsel for the respondent is not present.
Hence, S.O. to 27th August, 2009.
(Anant S. Dave, J.) *pvv Top