JUDGMENT :

VINEET KOTHARI, J.

1. The present set of three Intra Court Appeals are directed against the common Judgement and Order of learned Single Judge (Coram: Hon’ble Mr. Justice Jayant Patel) dated 27.1.2010 whereby the Special Civil Application No.2057 of 2000 [Neetaben U.Chokshi vs. Gujarat State Financial Corporation (GSFC) and Ors.] came to be partly allowed.

2. Ms. Neetaben U. Chokshi was a Guarantor/Surety for the borrower M/s. Disha Agro Industries Ltd., who had taken loan from GSFC and she mortgaged her Residential Bungalow situated at 11, Rudravadan Bungalows, Near Rozi School, Sun and Step Club Road, Thaltej, Ahmedabad, by way of collateral security with the GSFC as the Guarantor. The borrower Company M/s. Disha Agro Industries defaulted in repayment of loan to GSFC and therefore, legal action under Section 29 of the State Financial Corporation Act, 1951 (for short “the SFC Act) was initiated against the Petitioner/Surety on 15.2.2000 calling upon her to pay the outstanding amount of the said loan to the extent of Rs.77.34 lakhs.

3. It appears that without proceeding against the mortgaged assets of the borrower Company itself, the GSFC directly proceeded under Section 29