Drat Madras Court October 2003 Judgments

The South Indian Bank Ltd. Vs. A. Abdul Hameed and ors.

Court: DRAT Madras

Reported in: II(2004)BC228

1. The appellant South Indian Bank Filed OA against the defendants for the claim amount. The PO, DRT, Ernakulam, by Order dated 13.8.2001 disallowed the claim of the Bank as against D10 the Oriental Insurance Company Ltd., holding that the claim is not maintainable. The appeal is directed as against the Order passed by the PO, DRT, Ernakulam, disallowing the claim of the Bank as against D10 and also the rate of interest awarded by the Tribunal.2. Counsel for the appellant Bank submits that D10 the Oriental Insurance Company Ltd., is also liable to pay the amount as claimed by the Bank with future interest at rate of 18.5% per annum. The appellant has also prayed for realisation of interest at 18.5% p.a. as claimed in the plaint from the date of Suit till realisation on the decree amount of Rs. 24,33,519.48 p. As against the Insurance Company, the Bank claimed a sum of Rs. 17,71,581.73 p. Counsel for the appellant Bank argued that the Insurance Company is liable for that amount as insu...