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CAN BANK INITIATE RECOVERY AGAINST GUARANTOR WITHOUT NOTICE OF DISHONOUR?

In a Writ Petition before Bombay High Court, Petitioner challenged the Trial Court order passed under Section 101 of the Maharashtra Co-operative Societies Act, 1960 which was rejected by both the Trial Courts even in Appeal on the ground inter-alia that no due notice of dishonor of Bill of Exchange was given by the Petitioner...