Drat Mumbai Court January 2004 Judgments

Satpuda Tapi Parisar Sahakari Vs. I.F.C.i. Ltd. and ors.

Court: DRAT Mumbai

Reported in: II(2005)BC229

1. This appeal is sought to be filed by the appellants/original defendants being aggrieved by the judgment and order dated 29th November, 2002 passed by the learned Presiding Officer of Debts Recovery Tribunal - II Mumbai in Original Application No. 3546 of 2002.By the impugned order, the learned Presiding Officer allowed the application of the original applicants namely IFCI Limited, IDBI Limited and ICICI Bank Limited and ordered the defendant No. 1 namely M/s. Shree Satpuda Tapi Parisar Sahakari Sakhar Karkhana Limited (hereinafter to be referred to as Karkhana) to pay to the applicant No.1 IFCI Limited a sum of Rs. 60,50,36,648/- with interest on Rs. 57,58,48,802/- at the rate of 20% per annum from the date of filing of the original application till realization. The learned Presiding Officer also ordered the defendant No. 1 to pay to the applicant No. 2 IDBI Limited a sum of Rs. 60,77,57,361/- with intereest on Rs. 57,58,04,597/- at the rate of 20% per annum from the date of filin...