Respondent stood as a\u00a0guarantor\u00a0in respect of loan taken by borrower company and mortgaged his properties .\u00a0Due to non-payment of loan,\u00a0bank\u00a0had taken recourse of section 13(4) to take possession of mortgaged property, which was quashed by High Court . On SLP the Court held that there being a mortgage and loan amounts recoverable,\u00a0bank\u00a0was entitled to proceed under SARFAESI Act. Further, liability of guarantor is joint and several with principal debtor \u00a0set aside .Bank\u00a0is \u00a0entitled to proceed under SARFAESI Act, including notice under section 13(4).(CA No. of 2024 , arising SLP( C ) No 14982 of 2017 , \u00a0dt . 12 -3 -2024<\/p>\n","protected":false},"excerpt":{"rendered":"
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 <\/p>\n
S. 13 : Liability of guarantor is joint and several with principal debtor – Bank is entitled to proceed under SARFAESI Act for properties mortgaged by guarantor. [ S. 13(4), 17 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-54252","post","type-post","status-publish","format-standard","hentry","category-allied-laws"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e72","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54252"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54252\/revisions"}],"predecessor-version":[{"id":54253,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54252\/revisions\/54253"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}