IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.12252 of 2007 PARMESHWAR LAL SARAOGI Versus BIHAR STATE FINANCIAL CORPORATION &ORS with CWJC No.12253 of 2007 BRAJENDRA KUMAR VERMA Versus BIHAR STATE FINANCIAL CORPORATION &ORS with CWJC No.12254 of 2007 ARUN KUMAR NARNOLIA Versus BIHAR STATE FINANCIAL CORPORATION &ORS ----------- 2 23.2.2010 Heard learned counsel for the parties. In all these three writ applications questions raised are identical arising from common facts. One M/s Aryabhatta Paper Mills Limited was a borrower from respondent Bihar State Financial Corporation. Company fell in bad times and Court is informed that even liquidation proceeding is going on against the said Company. There are certain proceedings pending against the Company before the Debts Recovery Tribunal (DRT) but the present certificate proceeding is limited to the loan sanctioned in favour of the Company by the Financial Corporation and the present petitioners are stated to be the guarantors. The specified authority in exercise of power under section 32 (G) of SFC’s Act 1951 fixed the liability and worked out the figure which is payable to them. This power is vested to the specified authority under the Act and on due adjudication matter has been referred to Certificate Officer for recovery on the basis of the requisition made in this regard. Filing of the said certificate case compelled these petitioners to rush this Court. - 2 - Many a things have been stated with regard to multiplicity of the proceedings which have been initiated as well as the steps which have been taken by the Company to liquidate its dues under the various schemes including opting of OTS scheme. But all these submissions are of no avail to the petitioners in absence of any law which prevents an adjudication by the specified authority under section 32(G) of SFC’s Act, 1951 and initiation of a certificate proceeding as a consequence thereof. If that is the legal position in the dispute then no interference is required with the initiation of the certificate proceeding at this stage. Let the petitioners raise their objections before the Certificate Officer under section 9 of the Act and the Certificate Officer has responsibility under section 10 of the Act to adjudicate all those objections before further proceeding with the issue. Petitioners would be well advised to file their objections at the earliest and early decision will also be in their interest. All the three writ applications are disposed of with the above direction. RPS (Ajay Kumar Tripathi,J.)