- (1.) We have heard Sri P.C. Srivastava, learned counsel for the petitioner and Sri Satish Chaturvedi for the State Bank of India.
(2.) The respondent no. 6 took a loan from the respondent Bank in which the petitioner stood as a guarantor. The borrower failed to repay the loan and consequently recovery proceedings were initiated against the borrower as well as against the guarantor that is, the petitioner. An original application was filed before the Debt Recovery Tribunal which was decreed by an order dated 30.8.2011 directing the borrower and the petitioner to pay the amount of Rs. 16,28,126.60 paise along with interest and cost within a period of two months failing which it was open to the Bank to sell the mortgaged properties. The Tribunal also held that the petitioner and the borrower were liable to pay the amount jointly and severally.
(3.) On 26.8.2014 a notice was issued to auction the property of the petitioner which was mortgaged in favour of the respondent Bank. The petitioner, being aggrieved by this auction notice has filed the present writ petition.;