A.P. Deshpande, J.

The petitioner questions the legality and validity of an order dated 25.2.2002 passed by the respondent No. 3, the Deputy Collector and District Recovery Officer whereunder a sum of Rs. 2,97,859/- is directed to be recovered from the present petitioner on account of he having furnished personal guarantee for higher purchase loan sanctioned to the respondent No. 2. The second respondent is a proprietary concern of which one Mr. Marshall D’Souza is the proprietor. Mr. Marshall D’Souza is the brother of the petitioner and is the principal borrower. The respondent No. 1 is a Corporation which had advanced higher purchase loan to the respondent No. 2 borrower.

2. The proceedings in question are governed and regulated by a special statute called the Goa, Daman and Diu Public Moneys (Recovery of Dues) Act, 1986. Section 2(c) defines "Corporation" so as to mean the Financial Corporation established or functioning in this Union Territory and includes any other Corporation owned or controlled by the Central or the State Government specified by the State Government by a Notification in the Official Gazette. It is undisputed and is an admitted position that the respond