Drat Mumbai Court July 2005 Judgments

Jayant R. Kanani Vs. Bank of Baroda

Court: DRAT Mumbai

1. This substantive appeal is filed by the appellant/original defendant J.R. Kanani being aggrieved by the judgment and order dated 23rd April, 2003 passed by the learned Presiding Officer of the D.R.T.-II, Mumbai in Original Application No. 2970 of 2000. By the impugned judgment and order, the learned Presiding Officer allowed the application in favour of the applicant bank and against the defendant and ordered the defendant to pay to the applicant bank various sums as mentioned in CIs. (b) and (c) of the operative portion of the impugned order. The learned Presiding Officer also gave certain consequential declarations and directed issuance of recovery certificate in the above stated terms. Being aggrieved, the present appeal is filed. The bank sued the defendant by filing Original Application against him for recovery of:1. Rs. 52,60,705/- with interest at the rate of 18 per cent per annum with quarterly rests being due under CC2. Rs. 16,18,455/- with interest as above being dues und...

Dhanlakshmi Bank Ltd. Vs. Bank of India and ors.

Court: DRAT Mumbai

Reported in: 3(2006)BC183

1. This appeal is filed by the appellants/original defendant No. 3 Dhanlakshmi Bank Ltd. being aggrieved by the judgment and order dated 1st April, 2005 passed by the learned Presiding Officer of the D.R.T.-II, Mumbai in AppealNo. 114/2004. The impugned order was passed by the learned Presiding Officer on the appeal filed by one Swift Finlease (India) Ltd; it filed the said appeal under Section 17 of the SRFAESI Act, 2002. The appeal pertains to commercial premises being office Nos. 101 to 106, 1st Floor, Nilkanth Commercial Centre, Sahar Road, Andheri (East), Mumbai. The appellant in Appeal No. 114/2004 (on which the impugned order has been passed) was Bank of India/respondent NO. 1' s constituent since 1989. At or about 1985, the appellant company was enjoying cash credit facility of Rs. 3.50 crores granted by the respondent No. 1 Bank of India inter alia against equitable mortgage (created in February 1995) of the property. The appellant could not clear the outstandings. The appell...

Central Bank of India Vs. Krishna Ganpat Karekar

Court: DRAT Mumbai

Reported in: I(2007)BC162

1. This substantive appeal is filed by the appellant/original applicant Central Bank of India, being aggrieved by the judgment and order dated 13th December. 2002 passed by the learned Presiding Officer of the Debts Recovery Tribunal-III, Mumbai in Original Application No. 3287 of 1999. By the impugned judgment and order, though the learned Presiding Officer allowed the application with costs and interest at the rate of 16% p.a. from the date of suit till realization of the amount and ordered the defendant Nos. 1 to 1(C) to pay to the applicant Bank jointly and severally a sum of Rs. 1,00,25,449.14, he absolved the defendant No. 2 respondent herein Krishna Ganpat Karekar from the liability as a guarantor. Hence, this appeal to that limited extent. The defendant No. 1 Geeta Poultry Farm is a partnership firm of which defendant Nos. 1(A) to 1(C) are partners. The defendant No. 2 is a guarantor for the repayment of the amount, which the applicant Bank disbursed to the defendant No. 1 fir...

Anil Govindrao Kulkarni Vs. Sangli Bank Ltd. and ors.

Court: DRAT Mumbai

1. This appeal is filed by the appellant/original defendant No.6 Mr. A.G. Kulkarni, being aggrieved by the judgment and order dated 29th August, 2003 passed by the learned Presiding Officer of D.R.T.-I, Mumbai in Original Application No. 133 of 2001. By the impugned judgment and order, the learned Presiding Officer partly allowed the Original Application with proportionate costs against the defendant No.1 Standard Fabricators (India) Pvt. Ltd. and ordered the defendant No.1 to pay a sum of Rs. 1,20,60,246/- with future interest at the rate of 15 per cent. per annum with quarterly rests from the date of the application till realization of the said amount. The learned Presiding Officer also partly allowed the application with proportionate costs against the defendant Nos. 2 to 6 (guarantors) and ordered defendant Nos. 2 to 5 to jointly and severally pay a sum of Rs. 9,00,000/- with future interest at the rate of 15 per cent. per annum with quarterly rests from the date of demand i.e. fr...

Dena Bank Vs. Bankim Mehta and ors.

Court: DRAT Mumbai

Reported in: III(2006)BC248

1. This appeal is filed by the appellants/original applicants Dena Bank being aggrieved by the judgment and order dated 25th August, 2004 passed by the learned Presiding Officer of the D.R.T.-I, Mumbai in Original Application No. 641/2001. By the impugned judgment and order, the learned Presiding Officer dismissed the Original Application. Being aggrieved, the present appeal is filed.2. I have heard Mr. Chothani for the appellant Bank and Mr. Desai for the respondents. I have also gone through the proceedings including the impugned judgment and order and in my view, there is no infirmity in the impugned order. It is the case of the appellant Bank that the defendant No. 1 Bankim Mehta had requested for a cash credit against the hypothecation of book debts of Rs. 40 lacs, which was granted to him by the applicant Bank. The defendant No. 1 had executed demand promissory note, agreement of hypothecation, letter of continuity, general letter of lien and set-off and letter of undertaking. H...