MUKESH AGARWAL Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) According to the petitioners they stood as guarantor, in respect of a loan taken by Respondent no.6 (M/s Shikha Petroleum) from respondent no.5 (Branch Manager Punjab National Bank, Branch Roorkee Cantt, Rorkee, District Haridwar).

(2.) Since the loan could not be repaid in time, therefore, the respondent-Bank has initiated proceedings for recovery of the outstanding dues. Petitioners are aggrieved by the notices issued under Ss. 13 (2) and 13 (4) of SARFAESI Act, 2002.

(3.) Learned counsel for the petitioners submitted that petitioners have already filed a securitization application before Debts Recovery Tribunal, Dehradun, which is numbered as 863 of 2021, however, according to him, due to non- availability of Presiding Officer, Debts Recovery Tribunal, Dehradun is not able to function.