More than one guarantor - Liability has to be shared equally - property of which guarantor is to be put in auction by making reference to R.8(5)of Security Rules, 2002 - To be raised before DRT -

AIR 2009 ORISSA 99

ORISSA HIGH COURT

DR . B. S. CHAUHAN , C.J. and B. N. MAHAPATRA , J.

W.P. No. 15916 of 2008, D/- 10 - 11 - 2008

Krushna Chandra Mallick v. Chief General Manager, State Bank of India and Ors

Contract Act (9 of 1872), S.146 -

 Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (54 of 2002), S.38 - Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest (Enforcements) Rules (2002), R.8(5) -

Co-sureties' liability - More than one guarantor - Liability has to be shared equally - However,

objection that property of which guarantor is to be put in auction by making reference to R.8(5)

of Security Rules, 2002 - To be raised before DRT - Court cannot enter into factual controversy.