PUSHPALATHA Vs. THE DHANALAKSHMI BANK LIMITED

JUDGEMENT

(1.) THE petitioner who is guarantor to the loan availed by the third respondent is before this Court, because of the coercive proceedings stated as being pursued by the first and second respondent Bank under the relevant provisions of SARFAESI Act. The prayer is only for permitting the petitioner to satisfy the liability by way of reasonable installments. The learned standing counsel appearing for the first respondent Bank, submits on instructions that, in furtherance to the steps taken by the Bank against the defaulter, the entire liability has already been cleared by the defaulter himself and as such, nothing further remains to be considered.