Drat Allahabad Court September 2006 Judgments

Siddhivinayak Paddy Processors Vs. State Bank of Indore

Court: DRAT Allahabad

Reported in: III(2007)BC1

1. This appeal has been preferred against the final judgment and order dated 31st January, 2005 passed by the learned Presiding Officer, D.R.T., Jabalpur in Original Application No. 72 of 2002, whereby and whereunder a recovery certificate has been ordered to be issued for a sum of Rs. 32,34,148.84 along with cost and pendente lite and future interest at the contracted rate jointly and severally against all defendant-appellants.2. The cases of the parties have been elaborately stated in the impugned judgment itself and as such it is not being reiterated in this judgment. Only the salient features are being stated below for the purpose of disposal of this appeal. The appellant No. 1 is a proprietary firm and appellant No. 2 is the proprietor of the firm and appellant Nos. 3, 4 and 5 are guarantors, who have guaranteed their entire belongings including immovable properties to secure the loan amount of the Bank. According to the respondent Bank, loan was granted to the appellant No. 1-fi...