GOVIND M PUJARA Vs. BANK OF INDIA

JUDGEMENT

(1.) WE shall refer to the parties thus : respondent No. l, 'the bank', respondents Nos. 2 and 3. 'the borrowers' and petitioner, 'the guarantor'.

(2.) THE bank filed an application on 22nd december, 2003 for recovery of its dues under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short, 'the Act of 1993')against the borrowers and the guarantor. The bank also applied for an interim order. On 20th January, 2004, the Debt Recovery Tribunal (for short, "the Tribunal')) passed an order restraining borrowers and the guarantor from selling, alienating or disposing of the property secured with the bank including hypothecated goods.

(3.) ON 15th January, 2004, the bank is said to have made an application for attachment of the property of the guarantor. Notices of the said application are said to have been issued and on 2nd April, 2004, the order was passed by the Tribunal attaching the property of guarantor.