Drat Mumbai Court May 2003 Judgments
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Indian Bank Vs. Hemali Art Silk Mills Pvt. Ltd. and
Court: DRAT Mumbai
Decided on: May-09-2003
Reported in: III(2005)BC55
1. This appeal is filed by the appellant Indian Bank being aggrieved by the judgment and order dated 4.6.2002 passed by the learned Presiding Officer of Debts Recovery Tribunal- II, Mumbai in Original Application No. 3398/2000. By the impugned judgment and order, the learned Presiding Officer allowed the application filed by the Bank with costs against the defendant Nos. 1 and 3 to 6 and these defendants were jointly and severally ordered to pay to the applicant Bank an amount of Rs. 48,24,153.86 with interest at the rate of 18.5% per annum with quarterly rests from the date of the order of the original application till full realization. The learned Presiding Officer also gave declaration that subject to first charge of defendant No. 8 Rupee Co-operative Bank Ltd. in respect of outstanding of recovery certificate issued by Registrar of Co-operative Societies, Thane in ABN/TPCB/101/28 of 1987, the outstandings are secured by validly created mortgage (by defendant No. 3) of his flat No....
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