9911796707
TMI Blog2003 (7) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... aa ) of the State Financial Corporations Act, 1951 for recovery of a sum of Rs. 12,65,561. 2. The petitioner granted term loan of Rs. 3,80,000 on 25-6-1987. Again second term loan of Rs. 1,25,000 was sanctioned on 28-4-1988. The first respondent is a partnership firm, respondents 2 to 6 are the partners of the first respondent firm. The term loans were issued in favour of the firm. 3. Sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the previous hearings, there was no representation for the respondents. Hence, it was adjourned to this day. Even today, there is no representation on behalf of respondents 3 and 4 and therefore, the orders are passed on hearing the learned counsel for the petitioner. 6. Mr. Srinivasan, learned counsel appearing for the petitioner would submit that section 31(1)( aa ) of the State Financial C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n (1A), the District Judge shall forthwith order the enforcement of the liability of the surety." As per sub-section (4A), the Court shall forthwith order enforcement of liability of the surety, if no cause is shown by the respondents. 7. In this case, notice has been served on the respondents but only two respondents have entered appearance. They also did not file any counter. Therefore, no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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