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2013 Supreme(MP) 515

S.K.GANGELE, D.K.PALIWAL
Alok Saboo – Appellant
Versus
State Bank of India – Respondent


JUDGMENT

Gangele, J.

This petition has been filed by the petitioners against the order dated 12-03-2013 (Annexure P-1) passed by Debts Recovery Appellate Tribunal, Allahabad and the order dated 17-12-2012 (Annexure P-2) passed by Debts Recovery Tribunal, Jabalpur.

2. One private limited Company-M/s. Shrinivas Synthetic Packers (P) Ltd. advanced cash credit limit/hypothication limit by the respondent No.1- Bank. The petitioners were Directors of the Company at the relevant time. Various documents were executed by the Company including the petitioners as guarantee of loan amount. An amount of Rs.8,86,75,238=69 was due against the Company. On 16-09-2011, the Bank filed original application for recovery of the aforesaid amount under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred as to “the Act of 1993”). The aforesaid application was registered as O.A. No.275/2011. The Office of the tribunal issued notices to the petitioners on 29-09-2011, but nobody appeared before the tribunal. The notices were published in the newspaper on 08-01-2012 and the date of appearance was fixed 16-02-2012. The counsel on behalf of the petitioners ap















































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