ALLAHABAD BANK Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) BY the Court. -Heard the parties.

(2.) ON the matter of stay, while issuing notices to respondent Nos. 4 and 5 by order dated 15th October. 2012. this Court had granted ad -interim stay of operation of the impugned order dated 11.10.2012.

(3.) THE authorised officer of the bank issued notice dated 30.4.2012 under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act. 2002 (hereinafter to be referred as the SARFAESI Act) addressed to the guarantor with a copy to the borrower calling upon them to pay a sum of Rs. 63.67 lacs with interest.