Hon’ble Prakash Krishna, J.—In the present revision a vexed and pristine question of law with respect to the maintainability of the civil suit for recovery of borrowed sum filed by the creditor bank against the debtor and security vis-a-vis the proceedings initiated by another creditor bank namely Allahabad bank against the same borrower for recovery of borrowed sum by invoking Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act) is involved. The present revision is against the judgment and order dated 27th of April, 2010. The application under Order 7 Rule 11 C.P.C. filed by the present applicant who is one of the defendants in the suit No. 261 of 2008 has been rejected.

2. Canara Bank instituted suit No. 261 of 2008 against the defendant Nos. 1 and 2 and also the Allahabad Bank on the allegations that Mata Prasad, father of the defendant No. 1 and husband of defendant No. 2 who had borrowed a sum of Rs. 4 Lakhs on 26th of March, 2003 from the plaintiff bank after executing a housing loan agreement dated 7th of April, 2003 in favour of the plaintiff bank. It was a