Indian Bank Ludhiana Through Its Chief Manager And Constituted Attorney Sh. Vikram Singh v. Addl. District Magistrate Ludhiana And ANR
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$ / 6* Ai) Whether it is necessary for a secured creditor to issue a fresh notice under Section 13(2) of the SARFAESI Act to the legal heirs of a deceased guarantor or a borrower if the guarantor or borrower dies after initiation of proceedings of the secured creditor against them under Section 14 of the SARFAESI Act?; and (ii) Whether the proceedings already initiated under Section 14 of the SARFAESI Act prior to a guarantor's/borrower's death automatically abate and they cannot be continued against his legal heirs on the basis of the notice under Section 13(2) of the SARFAESI Act issued to the deceased guarantor/borrower during his life time?" 3 /
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