Drat Madras Court February 2004 Judgments
Housing and Urban Development Vs. Aswathy Housing (P.) Ltd. and ors.
Court: DRAT Madras
Decided on: Feb-26-2004
Reported in: III(2004)BC36
1. Aggrieved against the Order passed by the PO, DRT, Ernakulam, with regard to the award of interest the Bank has preferred this appeal. The PO, DRT, has awarded interest at 14% per annum from 1.1.2000 till the date of OA on the sum of Rs. 1,92,62,055/- plus interest at 12% p.a.from 21.2.2001 till the date of Order and 8% p.a. from the date of decree till the date of realisation.2. Counsel for the appellant Bank submits that the award of interest at the rate referred to above is not proper and the appellant Bank is entitled for the contractual rate of interest at 17.5% p.a. and the PO, DRT, ought to have allowed interest at that rate. Counsel for the respondents submits that the award of interest ordered by the PO, DRT, is perfectly justified because as on 31.12.1999 the amount due to the Bank was Rs. 1,92,62,055/- inclusive of interest and additional interest and only for that amount interest has been ordered at 14% from 1.1.2000 till the date of OA. The reason given by the PO, DRT,...
Tag this Judgment!Meera Murty Vs. Karnataka Bank
Court: DRAT Madras
Decided on: Feb-19-2004
Reported in: III(2004)BC131
1. D5 is the appellant. D5 has come forward with this appeal to set aside the Order of DRT dated 26.12.2001 in OA 960/1996 and to declare that the appellant's flat in the undivided share of land measuring 1.26% of the mortgaged property and the Flat No. 310, Ramya Residency, Nos. 648/N and 648/0, Indira Nagar, Bangalore be released and it cannot be sold and also to exclude this property from the Recovery Certificate.2. The PO, DRT has found that from the evidence of D5, it is clear that she is unable to establish the title to her property concerned and whether D5 actually purchased this property or not is a question which is not established by her and D5 has not showed the title to the property in question.3. The Counsel for the appellant relies upon the letter issued by the Karnataka Bank Ltd. The Karnataka Bank issued loan to M/s. Ramya Housing Ltd. D1 for promotion of flats. From the Ramya Housing Ltd. the appellant has purchased one flat to the extent of 1.26% of the property in N...
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