Drat Delhi Court June 2002 Judgments

Almania Foods and ors. Vs. Catholic Syrian Bank

Court: DRAT Delhi

1. This application has been moved by the appellant under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter called 'the Act') for waiver of required deposit under that section. Reply to this application has been filed by the respondent Bank whereby the prayer has been vehemently opposed.3. The Misc. Appeal in which this application for waiver has been moved, has been filed by the appellants against order dated 3.12.2001 passed by DRT-II, Delhi in O.A. No. 1221/ 95, Catholic Syrian Bank v.Almania Foods and Ors., whereby the appellants' application for setting aside ex-pane final order dated 16.6.97 in the said O.A. has been rejected.4. Learned Counsel for the appellants submitted that due to some misconception of the provisions of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, this application was moved but on in depth scrutiny of the provisions of the said Act, it was felt that the provisions of Section 21 of t...

Kohinoor Creations and ors. Vs. Syndicate Bank

Court: DRAT Delhi

Reported in: I(2003)BC88

1. This appeal is against order dated 6.8.2001 passed by the Debts Recovery Tribunal-II, Delhi in O.A. No. 58/2001 -- Syndicate Bank v.M/s. Kohinoor Creations and Ors.2. By the impugned order appellant's Interim Application No. 180/2001 praying for stay of proceedings in the O.A. on the ground that the Appellant No. 1 has an arbitration agreement with the respondent Bank, has been rejected. Feeling aggrieved with the order, this appeal has been filed. The appeal has been vehemently opposed by the respondent Bank.4. The aforesaid O.A. has been filed by the respondent Bank against five defendants. The first defendant is M/s. Kohinoor Creations and the rest of defendants are individual persons. The first defendant executed an Export Credit Agreement with the said Bank to avail packing credit facility from the said Bank and the rest four defendants stood guarantors for the loan. The Export Credit Agreement between the first defendant and the said Bank contains an arbitration clause. The g...

Davinder Sharma Vs. Central Bank of India and ors.

Court: DRAT Delhi

Reported in: I(2003)BC46

1. This appeal has been filed by one Shri Davinder Sharma against order dated 15.5.1996 passed by Debts Recovery Tribunal, Jaipur in O.A. No.86/96. By the impugned order, recovery application of Central Bank of India against the defendants in the said O.A. has been allowed and a sum of Rs. 27,64,468/- with interest @ 12.5% per annum with quarterly rests from the date of filing of the said O.A. till realization and a sum of Rs. 20,65,023.33 with interest @ 16.5.% per annum with quarterly rests from 15.6.1988 till relization has been decreed. The operative portion of the impugned order directs that the Bank is also entitled to recover the aforesaid sum by way of sale of hypothecated as well as mortgaged properties of the defendants.2. Since immovable properties had been mortgaged with the certificate holder, Central Bank of India, the property in question, being one of the mortgaged properties, was put to auction by the Recovery Officer in execution proceedings and the same has been sol...

ishwar Industries Ltd. Through Vs. Bank of India

Court: DRAT Delhi

1. This appeal has been filed against order dated 16.5.2002 passed by learned Presiding Officer of the Debts Recovery Tribunal-II, Delhi in O.A. No. 318/95.2. By the impugned order, the application of the CDs (who are appellants here) for direction to its debtors to pay the amount due to them so that they can liquidate and pay the debt of the Bank (Certificate-holder) as per the final order has been rejected with the observation that the application was misconceived because any dispute regarding recovery of amount due to the CDs from third parties could not be adjudicated in the concerned proceedings, more so, when the case has finally been disposed in Lok Adalat on 20.4.2002.3. Mr. H.L. Tikku, Counsel for the appellants contended before me that the loan in question was taken from certificate-holder/respondent Bank for development of aparticular piece of land, which was to be allotted to various persons in consideration of money to be paid to the appellants, and the appellants were to...

Saraswati Devi Gupta Vs. State Bank of Bikaner and Jaipur and

Court: DRAT Delhi

Reported in: I(2003)BC86

1. This appeal is against order dated 31.8.2001 passed by the Debts Recovery Tribunal, Jaipur in O. A. No. 40/2000. The appellant is defendant No. 6 in the said O. A. against whom an order was passed on 22.9.2000 under which the aforesaid O.A. was directed to be proceeded ex parte. The appellant moved an application under Order IX Rule 7, CPC on 29.8.2001 for recall of the said order dated 22.9.2000. That application has been rejected by the impugned order.2. In the application for setting aside the said order dated 22.9.2000 the appellant had averred that she was never served; that she was a lady of religious bent and used to go on pilgrimage; that valuation of the said O.A. was about a crore and, therefore, she wanted to contest the O.A. on merits; that she came to know about the O.A. only five days back when she had come to Jaipur for her medical check-up; and that it was only defendant No. 2, Neeraj Mittal who informed her about the O.A.The application was resisted on several grou...