F. I. REBELLO, J.

( 1 ) HEARD forthwith.

( 2 ) THE main issue which arises in this petition is as under :"is a secured creditor entitled to move under the provisions of The Securitisation and reconstruction of Financial Assets and enforcement of Security Interest Act, 2002 (hereinafter referred to as "securitisation Act"), if proceedings have already been initiated and are pending under the provisions of the recovery of Debts Due to Banks and Financial institutions Act, 1993 (hereinafter referred to as "r. D. B. Act")" and without withdrawing those proceedings?"

( 3 ) TO answer the issue, a few facts may be set out. The respondent bank has initiated proceedings under the R. D. B. Act bearing O. A No. 254 of 2001. Petitioner No. 1 is guarantor and petitioner No. 2 is principal debtor. The proceedings are pending before debts Recovery Tribunal, Nagpur (hereinafter referred to as "d. R. T. " ). The case of petitioner no 1 is that he has specifically taken a stand in the proceedings bearing O. A. No. 254 of 2001 that he has no obligation to pay any amount to the respondent. This contention is based on the assumption that there are no signatures of the Bank officials on the guara