Drat Kolkata Court September 2001 Judgments

U.C.O. Bank Vs. Chatterjee Polk Ltd. and ors.

Court: DRAT Kolkata

1. This is an appeal preferred under Section 20(1) of Recovery of Debts Due to Banks and Financial Institutions Act, 1993, hereinafter referred to as "the Act of 1993" and is directed against the judgment and order dated 16th June, 1999, passed by the learned Presiding Officer, Debts Recovery Tribunal, Calcutta in T.A. 151/97.2. The case of the appellant Bank in short is that they had to file a title suit being 61/1983 in the Court of Assistant District Judge, Alipore for recovery of certain amount and for enforcement of mortgage created to secure the advances by the Bank, A preliminary decree was passed on 21st April, 1987 and a final decree was passed ex-parte on 18th June, 1991, with direction to sell the mortgaged property. In the absence of amicable payment, title execution being 1/1992 was started in the 3rd Court of Assistant District Judge at Alipore for sale of mortgaged property and realisation of Rs. 27,24,946.85. In the meantime, on 24th June, 1993, the Recovery of Debts D...