Loan Guarantor Liability terminates once bank accepts repayment under settlement scheme

HIGH COURT OF ALLAHABAD Union Bank of India v/s. Chairperson, Debts Recovery Appellate Tribunal DILIP GUPTA, J. CIVIL MISC. WRIT PETITION NOS. 29076 & 29083 OF 2011 JULY 7, 2011 JUDGMENT Dilip Gupta, J. – Writ Petition No. 29076 of 2011 has been filed by the Union Bank of India, Sarvodaya Nagar, Kanpur (hereinafter referred to as the “bank”) for quashing the order dated February 18, 2011, passed by the chairperson of the Debts Recovery Appellate Tribunal, Allahabad (hereinafter referred to as “the Appellate Tribunal”) in Appeal No. 614 of 200...