(Per Ghulam Mohammed, J.)

1. This writ petition is directed against an order passed on 22.4.2004 by the Debt Recovery Appellate Tribunal at Chennai in MA No. 37 of 2003, which appeal has been moved by the 1st respondent – State Bank of India, henceforth referred to as `Bank’.

2. The writ petitioner was a Promoter and the Managing Director of the 5th respondent company, which was ordered to be wound up pursuant to the proceedings initiated in RC No. 10 of 1994 before the Board for Industrial Finance and Reconstruction (BIFR). The Official Liquidator attached to this court has taken charge of the assets of the company under liquidation on 29.3.1998. Respondents 1, 2, 3 herein which are public sector undertakings, acting in consortium through the 1st respondent – Bank, initiated recovery proceedings for a sum of Rs.13,12,48,000/- (Rupees Thirteen crores twelve lakhs and forty eight thousand only) by instituting OA No. 1144 of 1995 before the Debts Recovery Tribunal, Bangalore, which was allowed on 13.1.1997 as against the company as the principal debtor and the writ petitioner herein in his capacity as the guarantor of the debts of the said company. Since no appeal has been