- (1.) Heard Shri R.K. Jain learned Senior Advocate, assisted by Shri Ankur Sharma, for the Petitioner. None appears on behalf of the Respondents.
(2.) The brief facts of this case as stated in the writ petition are that the Respondent No. 2 filed a Claim application under Section 19 of Recovery of Debts Due to banks and Financial Institutions Act, 1993 (hereinafter referred to as 'RDB Act') in the Debts Recovery Tribunal, Allahabad which was numbered as Original Application No. 99 of 2001 for issuing of recovery certificate for its alleged dues of Rs. 24,48,546/- with interest pendentelite and future at the rate of 16.5.% p.a. with quarterly rests against a partnership firm known as M/s. Anandeshwar Industries Respondent No. 4 (Defendant No. 1 in the claim application) and its partners. The guarantee was executed by the Petitioners in consideration of the aforesaid loan of Rs. 14 lacs.
(3.) In the claim application the Bank, inter alia, alleged that M/s. Anandeshwar Industries and its partners and mortgagor (Respondent Nos. 4 to 9) approached the Bank for grant of a credit facility of Rs. 14 lacs, which was granted by the Bank against the security of hypothecation of stocks, second charge on the immovable property of the Defendant No. 1 (Respondent No. 4 herein). The said credit facility was also secured by personal guarantees of Respondent Nos. 5, 6 and 7 (Defendants Nos. 2,3,4) and also by the personal guarantees of the Petitioners. (Defendants Nos. 8 and 9 before the DRT).;