J. JANSY Vs. THE AUTHORISED OFFICER ALLAHABAD BANK HEAD OFFICE NO. 2, NETAJI SUBHAS ROAD. KOLKATE -700001 AND OTHERS

JUDGEMENT

(1.) IN these writ petitions, petitioners are challenging the action initiated by the respondent -Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security (Merest Act. 2002 (for short the Act') including the sale notice dated 29.10.2011 issued vide Annexure -G fixing the date of sale of the property in question by way of public auction on 05.12.2011.

(2.) THE main contention urged by the petitioners is that though there was a partition on 04.0.5.2000 whereunder the property in question was got divided amongst the petitioners. 5th respondent and other co -sharers, suppressing the same, the 5th respondent has stood as a guarantor for advancing the loan in favour of the 4th respondent by the Allahabad Bank. The 5th respondent has executed a mortgage deed in his capacity as a guarantor for the said loan advanced in favour of the 4th respondent.

(3.) IT is contended by the learned Senior counsel appearing for the petitioners that without even notifying the petitioners coercive action has been initiated by the respondent -Bank and the property of the petitioners is brought for sale.