Bombay High Court Dismisses Petitions Challenging SARFAESI Act Proceedings Against Guarantors — Guarantors Not Entitled to Pre-Deposit Under Section 17(2) of SARFAESI Act, 2002. The court held that a guarantor is a borrower under Section 2(1)(f) of the SARFAESI Act, 2002, and can be proceeded against under Section 13(2), but the pre-deposit requirement under Section 17(2) does not apply to guarantors.
30 Nov -0001The judgment involves four writ petitions filed by members of the Shegur family against Vikas Co-operative Bank Ltd. and Bank of Maharashtra. The peti...




