Drat Madras Court September 2008 Judgments

C.L. Rajalakshmi Vs. Bank of Baroda

Court: DRAT Madras

1. This Appeal is filed by the Appellant/3rd Defendant challenging the Order passed by the DRT-II, Chennai in OA-2410/2001 dated 25.5.2007. 2. The facts leading to the filing of this Appeal are briefly as under :- The Respondent Bank filed the said OA under Section-19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter called as the RDDBandFI Act) against the defendants 1 to 3 for recovery of Rs.96,33,180.63p with future interest @ 17% p.a. with quarterly rests from the date of Application till the date of realisation. The 3rd defendant is the Appellant herein. The case of the Respondent is that the 1st defendant, proprietary concern represented by the 2nd defendant availed the overdraft facility and that the Appellant herein guaranteed the loan and mortgaged the Schedule properties. The Appellant filed a reply statement denying the liability on the ground that she had neither created the mortgage in favour of the Respondent Bank nor signed in any of...