Hon'ble S.C. Chaurasia,J.
Learned Chief Standing Counsel has accepted notice on behalf of opposite party No.1.
Issue notice to the opposite parties 2 to 4.Apart from regular mode of service, liberty is given to the petitioner outside the court for which office shall provide necessary notice. List in the week commencing 8.3.2010.
It has been submitted by the petitioner's counsel that no notice under Sub Section (2) of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Act, 2002 has ever been served upon the petitioner who is a guarantor; rather it has been served on the borrower.
Accordingly, till the next date of listing, further recovery proceedings shall remain stayed in case no statutory notice has been served upon the petitioner. However, the respondents may proceed against the borrower in accordance with law.
Order Date :- 4.2.2010 kkb/ Let a certified copy of this order be issued to the petitioner's counsel as per rules today.
4.2.2010 kkb/