Debts Recovery Tribunals and Appellate Tribunals
KAILASH CHAND TAKHAR vs BANK OF BARODA on 20 February 2025
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur * Item no. 82 Case No. MA/10/2020 IN OA/328/2016 KAILASH CHAND TAKHAR Vs BANK OF BARODA Date: 20.02.2025 Proceedings through hybrid mode Present: Shri Kailash Tailor, Counsel for the applicant Shri Nirmal Verma, Counsel for the Respondent Bank/FI In this matter, Ld. counsel for the applicant submits that his guarantee is not maintainable as such guarantee was given to him on the basis of being a director of the company, but he submits that he has resigned from the directorship of the company and intimated the ROC. The resignation from the directorship does not absolve his guarantee of the director. This Misc. Application has been filed in the year 2020 and there is no merit in the argument. Further, he submits that he has never been served the notices, but the final order and Recovery Certificate can be served on the same address. This arguments is no tenable, therefore, this Misc. Application stands dismissed. File be consigned to record, as per rules. Copy of order be uploaded on website.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur