Court : DRAT Madras
Reported in : II(2006)BC158
1. This regular appeal is directed against the order dated March 9, 2005, passed in TA No. 230 of 2001 by the DRT-II at Chennai. The second and third defendants are the appellants.2. The first respondent-bank filed a suit in C.S. No. 1536 of 1993 before the High Court of Madras for recovery of a sum of Rs. 39,01,158.78 together with interest at 17.75 per cent, per annum from June 25, 1993, till realisation against one M. K. Kumar, the first defendant and proprietor of Shree Durga Packaging and Allied Industries and Shree Durga Prints and the appellants herein, namely N. Sanjeeva and Narayana Udupa, and the same was transferred to DRT-II, Chennai, and it was taken on file as T.A. No. 230 of 2001.3. The business was originally carried on as partnership firm consisting of Kumar and Sanjeeva by partnership deed dated February 15, 1981, and for the said partnership business. Cash credit (mundy) limit of Rs. 2,60,000 was granted for which defendants Nos. 1 and 2 have executed necessary docu...
Tag this Judgment!Court : DRAT Madras
Reported in : II(2006)BC128
1. The defendants 3 and 5 in the OA are the appellants in this appeal.The respondent Bank filed the suit OS 2919/1992 before the City Civil Judge at Bangalore and it came on transfer to the DRT. Bangalore and taken on file as OA-663/1995. OA was filed for recovery of a sum of Rs. 20,91,615/- together with interest at 23.5% p.a. to be compounded quarterly and for costs and other reliefs.2. The case of the applicant Bank is that the 1st defendant is a proprietary concern owned by the 2nd defendant and they sought for a loan and the same was sanctioned as Cash Credit facility for Rs. 50,000/- on 3.1.1991 and 2nd defendant executed the promissory note dated 3.1.1991, agreement of hypothecation in respect of movable properties and also agreement of hypothecation of plant and machinery and availed the facility in full. During the course of the business, the 2nd defendant also deposited several cheques issued by third parties to the plaintiff Bank and those cheques were also realised. It is ...
Tag this Judgment!Court : DRAT Madras
Reported in : II(2006)BC107
1. Both these appeals have been filed by the defendants 1 and 2 in the OA-345/2002 Regular Appeal RA-52/ 2005 has been filed as against the final order dated 31.3.2005 in OA-345/2002 and Miscellaneous Appeal MA-93/2005 filed as against the order dated 31.3.2005 in IA-348/2004 in OA-345/2002, passed by the DRT-II, Chennai. The respondent Bank filed the OA for recovery of a sum of Rs. 7,51,30,174/- together with future interest @22% per annum with monthly rests from the date of application till realisation and for other reliefs and the same was decreed. Hence the appeal.2. The 1st defendant is a company with three Directors, (1) Mr. Ahmed Basha, (2) Mrs. Shamshad Begum, and his nephew, (3) Mr. Ameen Sayed.Mr. Ahmed Basha was no more on the date of filing of the OA. As per the information available to the Bank, Mrs. Shamshad Begum and Ameen Sayed, are the only legal representatives of the deceased Ahmed Basha and they have undertaken the liability for all his debts and obligations. The 1...
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