Drat Delhi Court November 2005 Judgments
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Bank Of Baroda Vs. Teg'S Musrado Ltd. And Ors.
Court: DRAT Delhi
Decided on: Nov-29-2005
Reported in: I(2006)BC120
1. The appellant-bank instituted suit in O. A. No. 511 of 2000 before the Debts Recovery Tribunal (DRT), Chandigarh, for recovery of certain amounts. On the basis of pleadings and evidence, the Tribunal by order dated January 13, 2005, dismissed the suit claim of Rs. 2,33,59,138 in TL-I, Rs. 1,14,29,922 in TL-II and Rs. 1,07,18,243 holding that these claims are barred by limitation. However, by the same order, the Tribunal directed to proceed for recovery of Rs. 3,87,50,236 claimed as interest on the bank guarantee invoked and further directed for fixing the case on February 28, 2005, for arguments for recovery of aforesaid amount. It is this order which is under challenge before this Tribunal.2. Mr. Ashok Jagga, learned Counsel for the appellant-bank mainly contended that the Tribunal has committed an error in dismissing the suit on three counts. According to learned Counsel, the claim of the applicant-bank is secured by equitable mortgage of four properties of the defendants. Initia...
Bhangoo and Company Vs. Mittal and Garg Enterprises and
Court: DRAT Delhi
Decided on: Nov-29-2005
Reported in: I(2006)BC112
1. The present appeal is filed by the auction purchaser aggrieved by the order passed by the Debts Recovery Tribunal, Chandigarh (for short 'the DRT') in Appeal No. 6/2005 on 30.3.2005. Before I set out to decide the controversy, few facts which are necessary to be recorded are as under: 2. The 2nd respondent herein instituted O.A. seeking to recover certain amounts, which was decreed. As the judgment debtors failed to pay the amount, recovery proceedings were initiated by the Recovery Officer on the basis of the Recovery Certificate issued under the scheme of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short 'the RDB Act'). The Recovery Officer appointed one Mr. U.K.Khosla, an Advocate, to auction the property and accordingly sale proclamation was issued on 23.9.2004 fixing the Reserve Price at Rs. 1 crore and the auction was fixed for 30.10.2004. Neither the decree-holder nor the judgment debtors objected to the fixing of the Reserved Price at Rs. 1 ...
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