Drat Madras Court July 2008 Judgments
R. Krishnan Vs. State Bank of Hyderabad and Others
Court: DRAT Madras
Decided on: Jul-17-2008
Common Order 1. The Appellant has preferred these Appeals challenging the Orders passed by the DRT, Bangalore, in AOR-1/2006 dated 30.3.2007 and AOR-17/2005 dated 17.5.2007. 2. For the sake of convenience, the parties may be referred to hereunder as they are arrayed in Appeal MA-233/2007. 3. The facts leading to the filing of these Appeals may be set out as under :- The 1st Respondent Bank filed the Applications under Section-19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter called as RDDBandFI Act) before the DRT in OA Nos.171/2001, 172/2001 and 173/2001 against the Respondents 2 to 6 herein for recovery of Rs.35,20,930.18p, Rs.25,22,938.44p and Rs.13,00,185.88p respectively with future interest at 16% p.a. from the date of Application till realisation with quarterly rests and also for sale of the pledged and hypothecated properties described under A, B and C Schedule and for costs. After hearing both sides on merits, OAs were ordered as prayed...
Tag this Judgment!The Authorised Officer/General Manager, Sri Basaveshwar Co-operative B ...
Court: DRAT Madras
Decided on: Jul-14-2008
This appeal is preferred by the Appellant Bank challenging the impugned Order passed by the DRT, Bangalore in ASA-16/2006 on 12.2.2008. 2. The facts of the case leading to the filing of this Appeal may be set out briefly as under: The Appellant Bank initiated the proceedings under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (herein after called as SARFAESI Act) against the 1st respondent and his guarantors for recovery of loan amount of Rs.4,92,000/-, availed by the 1st respondent. Consequently, auction was conducted on 10.1.2006 and the secured asset was sold on the same day to the 2nd and 3rd Respondents herein. The said sale was confirmed and sale certificate also issued by the Appellant Bank. The 1st Respondent resisted the proceedings by filing the Appeal before the DRT, Bangalore, challenging the action initiated by the Appellant Bank, on various grounds. The Appellant Bank and the auction purchasers (i...
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