P. C. NAIK, J.

( 1 ) BY this petition under Arts. 226/227 of the Constitution of India, the petitioner prays for issuance of an appropriate writ, direction or order quashing the notice dated 29-7-1993 Annexure-1 to the petition issued under S. 29 of the State Financial Corporations Act, 1951 (hereinafter for short as the'act'), requiring the petitioner to pay the short fall amount of Rs. 2,53,550. 44 paise. The facts involved in this petition are simple.

( 2 ) THE petitioner was a guarantor in respect of a loan of Rs. 1,75,300/ - advanced to one Sri Bansoidhar Samantray by the Corporation. The loan was to carry an interest of 15. 05 per cent. The petitioner by way of collateral security had mortgaged some properties with the O. S. F. C. to secure the repayment of the loan. As the borrower defaulted in paying the installments as per the agreement, the O. S. F. C. , in exercise of power under S. 30 of the Act recalled the loan and the truck bearing Registration No. OSU 1918 was seized by the Corporation in exercise of the power under S. 29 of the Act. The above facts are not disputed. The dispute between the parties is whether or not a notice under S. 29 of the Act was issued to th