DEEPAK KUMAR SHARMA Vs. BANK OF INDIA

JUDGEMENT

(1.) THE matter has come up on application seeking vacation of the stay order.

(2.) WITH the consent of learned counsel for both the parties, the matter was heard finally.

(3.) LEARNED counsel for the petitioner submits that he is a co-surety, thus liable for certain obligations but then conduct of the respondents is also required to be seen inasmuch as the property under the hypothication exists with the respondents yet without disposing off those properties, action has been taken against the petitioner. It is submitted that respondents may be given direction to first dispose off all the hypothicated property and if anything yet remains due then the statement of due amount may be furnished to the the petitioner. He would then discharge the liability with liberty to make a recovery of the aforesaid amount from the original debtors.