Drat Mumbai Court March 2006 Judgments
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P.M. Traders and ors. Vs. Union Bank of India and ors.
Court: DRAT Mumbai
Decided on: Mar-27-2006
Reported in: IV(2006)BC65
1. Mr. Nagori for the appellants and Mr. Gopalkrishna Swami for the respondent No. 1 are present.2. All these three miscellaneous appeals are filed by the different defendants in the same original application against the order passed by the D.R.T.-II, Mumbai on 25th May, 2005 allowing the application made on behalf of the respondent No. 1 Bank/original applicant Bank to lead secondary evidence of the security documents through typed copies filed along with the original application.3. The respondent Bank had filed an application dated 9th February, 2005 before the D.R.T. to allow them to lead secondary evidence in respect of documents, a list of which was given in Exhibit 'C' annexed to the said application. Those documents were 19 in number and all of them were dated 19th September, 1984. Copies of those documents had been annexed as Exhibits 'A' to 'S' to the original application, which consisted of documents like demand promissory note, deed of hypothecation, declarations, promissor...
Ultramatrix System Pvt. Ltd. Vs. State Bank of India and ors.
Court: DRAT Mumbai
Decided on: Mar-22-2006
Reported in: IV(2006)BC57
1. Mr. Paralikar for the appellants and Mr. Bhambhalani along with Ms.Meenal Bhambhalani for the respondent No. 1 Bank are present.3. This appeal has been filed by the borrowers/original defendants impugning the order dated 16th December, 2003 where by the application of the respondent No. 1 Bank i.e. the original applicant for issuing recovery certificate against the appellants under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993, was granted by the DRT., Pune.4. The respondent No. 1 Bank had filed original application on 3rd June, 2003 for recovery of an amount of Rs. 2,91,63,589.52 against the appellant company, the main borrower and the respondent Nos. 2 and 3, the guarantors. On 16th June, 2003, the respondent Bank made an application under Rule 12(5) of the Debts Recovery. Tribunal (Procedure) Rules, 1993 (hereinafter referred to as "the Rules") read with Section 19(20) the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referr...
D.M. Cements Pvt. Ltd. Vs. Industrial Development Bank of
Court: DRAT Mumbai
Decided on: Mar-12-2006
Reported in: III(2007)BC17
1. This appeal has been preferred by one of the bidders for purchase of the property belonging to the respondent No. 7 at the public auction held on 11th January, 2007, challenging the order dated 29th January, 2007 passed by the Presiding Officer of D.R.T., Pune confirming the sale in favour of the respondent No. 12 and forfeiting the sum of Rs. 50 lacs out of the amount deposited by the appellants. Facts leading to the present appeal are as follows: The respondent Banks and financial institutions forming a consortium have filed proceeding for recovery of the dues from the respondent No. 7 before the D.R.T. Pending the Original Application, the factory premises of the respondent No. 7 were sought to be sold by consent of the creditors as well as the borrowers after obtaining an order dated 6th December, 2006 from this Tribunal fixing sum of Rs. 8 crores as a reserve price.2. The notice dated 21st December, 2006 was published in the newspapers in Bombay and in Karnataka State on 26th ...
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