1. The petitioner is challenging the notice dated 15.9.2009 issued by the 2nd respondent under Section 13 of the SERFAESI Act seeking to recover a sum of Rs.72,00,571/- from the petitioner and respondent No.3 arising in respect of loan transaction between 3rd respondent and 1st respondent.

2. Brief facts leading to this petition are as under:

G.K. Shantha Raju proprietor of 3rd respondent M/s Vinayaka Electrical Enterprises availed credit facility for his business from 1st respondent/State Bank of Mysore. The loan was availed to the turn of Rs.14,50,000/- in the year 1997. The petitioner herein stood as guarantor for the said loan transaction. Since 3rd respondent initiated proceedings for recovery in OA.No.67/2000 on the file of Debts Recovery Tribunal, Bangalore. In the said proceedings, proprietory concern of 3rd respondent herein was 1st defendant, 2nd defendant was G.K. Shantha Raju himself and 3rd defendant was petitioner herein. In the said proceedings 1st defendant M/s. Vinayaka Electrical Enterprises and its proprietor Shantharaju 2nd defendant were represented by common advocate. So far as 3rd defendant/petitioner herein was represented by a different advocate