Drat Madras Court August 2008 Judgments

M/S. Tirupathi Tube Wells and Others Vs. the Karnataka State Financial ...

Court: DRAT Madras

1. This Appeal is preferred challenging the legality of the Order passed by the DRT, Bangalore, in MA-12/2004 in OA-553/2001 dated 29.8.2007. 2. The facts leading to the filing of this Appeal are briefly as under :- The 1st Respondent financial institution filed the said OA against the Appellants herein and the same was decreed on 31.12.2002. The Appellants filed the said MA to set aside the Order passed in the said OA. The Respondent institution filed the objections resisting the Application filed by the Appellants on various grounds. Ld. PO after hearing both sides on the basis of the records of the case dismissed the Application filed by the Appellants with cost. Hence the Appeal. 3. Heard Mr. M. Veerabhadraiah, Ld. Counsel for the Appellants and Mr. M.P. Balasubramaniyam, Ld. Counsel for the 1st Respondent. 4. The following contentions have been raised by the Ld. Counsel in support of the Appellants :- It is true that the Appellants borrowed Rs.25 lakhs from the 1st Respondent fina...