Action directly againstguarantor - Without taking action against borrower - Not illegal.

AIR 2010 SUPREME COURT 3413

SUPREME COURT

(From : Allahabad)*

G. S. SINGHVI , J. and A. K. GANGULY , J.

Civil Appeal No. 5990 of 2010 (arising out of S. L. P. (C) No. 10145 of 2010), D/- 26 - 7 - 2010

United Bank of India v. Satyawati Tondon and Ors

(A)Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest

Act (54 of 2002), S.13(2), S.13(4) - Enforcement of security interest - Action directly against

guarantor - Without taking action against borrower - Not illegal.