Judgment Search Results Home > Cases Phrase: interest due Court: drat mumbai Page 1 of about 73 results (0.044 seconds)

Continental Construction Vs. Export Import Bank of India and

Court : DRAT Mumbai

Reported in : IV(2004)BC194

..... . therefore, war compensation has to be construed as "receivables" as per the terms and conditions of the joint hypothecation deed, irrevocable letter of undertaking and deferred dues facility agreement.as far as the grievance of the appellants on that interest accrued, at least should not be reinvested and direction of the learned presiding officer to that effect is erroneous, it will have to be stated that even this contention of the ..... these two banks that they would seek direction from the concerned tribunal not to permit the appellants to utilize the interest accrued on the deposit that would be maintained with the two banks, but to let such interest be accumulated for being ultimately available to the respective banks for adjustment of their dues as the when orders of the respective drts become final.accordingly, it was prayed by the applicant exim bank ..... filing of the suit till payment or realisation for declaration that the above mentioned amount and interest due to the sbi, who was joined as a formal party defendant no. ..... . as security for the due repayment of the aforesaid amounts, costs and interests to the plaintiff exim ..... due from the appellants as on 30.12.1992 in respect of the said overdraft facility was quantified to 110.695 million us dollars, including accrued interest ..... hundred two crores ninety-three lacs nine thousand seven hundred thirty-four and paise ninety-eight only) under the deferred dues facility together with further interest thereon @ 15% p.a. .....

Jayant R. Kanani Vs. Bank of Baroda

Court : DRAT Mumbai

..... 2,99,769/- with interest as above being dues under inland letter of credit (advance bills) facility. ..... 16,18,455/- with interest as above being dues under bill purchase / bill discounting facility;3. rs. ..... 52,60,705/- with interest at the rate of 18 per cent per annum with quarterly rests being due under cc2. rs. ..... the rate of interest was also denied.case of the defendant in the written statement, was that in the year 1996, he offered to sell office premises at bhuleshwar and sought the applicant bank's permission to sell the same. ..... however, all these facts were taken into consideration by the learned presiding officer only for reducing the rate of interest.7. ..... however, many facts like the applicant bank unnecessarily suppressed the permission for sale of the defendant's office premises, that the defendant suffered loss due to lapse of lic policies, etc. .....

The Bank of Rajasthan Ltd. Vs. Gsl Products Ltd. and ors.

Court : DRAT Mumbai

Reported in : II(2005)BC168

..... jain while supporting the impugned judgment and order on the points that the penal interest was rightly denied, that denial of compounding of interest was correct and granting of simple interest was also correct, assailed judgment on other points which are incorporated in his reply to the appeal and he has given nomenclature to his assailing as "cross objections".though cross objections may ..... hearing both the advocates, it is revealed that what was agreed was simple interest at the rate of 17.5% per annum and the same was therefore granted by the learned presiding officer from the date of filing of the original application, since the agreement (hypothecation deed) did not provide for compounding of interest.thus, while affirming submission of the applicant bank that they have proved their ..... contract, the learned presiding officer came to the conclusion that the applicant bank was not entitled to penal interest.he therefore deducted that amount from the amount claimed in the original application and thereafter outstanding came to ..... be filed in the proceedings under the arbitration act in other proceedings under the code of civil procedure, in the recovery of debts due to banks and financial institutions .....

Ultramatrix System Pvt. Ltd. Vs. State Bank of India and ors.

Court : DRAT Mumbai

Reported in : IV(2006)BC57

..... subject-matter of the proceeding, and who make the statement in their character of persons so interested, or (2) persons from whom interest derived-persons from whom the parties to the suit have derived their interest in the subject-matter of the suit, are admissions; if they are made during the continuance of the interest of the persons making the statements.thus, sections 17 and 18 do not restrict the meaning of the word 'admission ..... of rule 12(5) which states about debt due to a banks....and the definition of debt in section 2(g) stating, 'debt means any liability (including interest) which is claimed' as due from any person by a bank....17. ..... 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 referred to as "the rddbfi act") for issue of recovery certificate ..... not a public document so as to make it admissible in evidence in support of the contention that it was an admission of an amount of debt due from the borrowers to the bank, it was also argued that in any event, the bank will have to lead evidence to prove that the amount stated to be due in the balance sheet is actually due and payable by the appellants to the bank. ..... that can be put on the word 'admission' used in rule 12(5) of the rules, as explained above, the narrower meaning cannot be given to the said provision due to the use of the word 'defendant' as argued on behalf of the appellants. .....

Bajaj Electricals Ltd. Vs. Canara Bank and anr.

Court : DRAT Mumbai

Reported in : IV(2006)BC144

..... since the deposit amount is invested in fdr with the respondent bank, i am of opinion that, it would be unjust to give benefit only of interest which accrued on the amount invested in fdr to the appellants when the amount is invested with the creditor bank itself. ..... it was held that in the absence of direction of the court and in the absence of agreement to the contrary between the parties, the amount paid to the judgment creditor by the judgment debtor has to be firstly adjusted towards interest as done by the bank in the instant case and costs and thereafter towards the principal amount. ..... naturally, the bank wants to give credit for the amount deposited by the appellants along with interest accrued thereon from the date of the order of this tribunal, which may be passed in respect of the amount.3. ..... on behalf of the appellants, it is argued that on the amount deposited in fdr, the appellants are entitled to interest only at the rate of 4.75 per cent per annum compounded with quarterly rests, while the respondent bank is charging interest at the rate of 18 per cent per annum on the loan given to the appellants. ..... in fdr in the name of the registrar, drat, mumbai with the respondent bank on 25.2.2004.now respondent bank has filed praecipe in the appeal seeking directions for appropriating the amount of deposit along with accrued interest thereon towards the 'debt' due from the appellants to the respondent bank. .....

Patheja Forgings and Auto Parts Vs. I.F.C.i. Ltd. and ors.

Court : DRAT Mumbai

Reported in : IV(2005)BC87

..... be looked into.the preamble to the recovery of debts due to banks and financial institutions act, 1993 states that "this act is to provide for the establishment of tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto".preamble to the securitization and reconstruction of financial assets and enforcement of security interest act, 2002 states that "this act is to regulate ..... as already observed, the rdb act covers secured as well as unsecured dues, while the securitization act takes into account only secured assets and secures interest of the secured creditors only.the intention in enacting both the acts therefore is complimentary to each other, but they ..... the securitization and reconstruction of financial assets and enforcement of security interest and for matters connected therewith or incidental thereto".12. ..... paramount interest is expeditious recovery of the banks and financial institutions dues, which is public money and enforcement of the securities of the banks and financial institutions and to regulate procedure .....

i.C.i.C.i. Bank Limited Vs. Daewoo Motors (India) Ltd. and

Court : DRAT Mumbai

Reported in : IV(2004)BC220

..... fees of the valuer.valuer to submit report to the drt-iii, mumbai and to seek further directions from the drt-iii, mumbai.the appellants are permitted to accompany prospective buyers who are interested in purchasing the property while visiting the premises after giving prior intimation to the respondent no. ..... safeguard not only their interest but to safeguard interest of public at large as huge public money was involved, due and was payable. ..... losses are increasing and there is a recurring burden of interest to the financial institutions whose loans and advances are admitted ..... under these circumstances, it is in the interest of all the parties and in the interest of national economy to take recourse to the salutary principles laid down by the supreme court ..... that they are not interested in their plant and ..... are joined as necessary parties as they have interest in the assets of the respondent no. 1 ..... 1500 crores but in addition, there are also dues of secured and unsecured creditors which may go well over the value of the assets of ..... the liability of interest owed to the lenders on a daily basis, on a conservative approach, ..... 1 has become totally unable to pay huge dues of the applicant bank, so also of the other banks and financial institutions, permission to sell assets of ..... 1 and various sub-rules there unmistakably depict that the court has unfettered powers in the event the court feels, that the sale of property would be just and convenient having due regard to the situation of the matter. .....

Union of India (Uoi) Vs. Daewoo Motors (i) Ltd. and ors.

Court : DRAT Mumbai

Reported in : IV(2005)BC163

..... made by the appellants vide those applications were, that permission be granted to the customs officers to confiscate the property, which was in the custody of the court receiver appointed, for government dues, as they had got priority and that direction be issued to the court receiver/recovery officer not to advertise for sale of the properties of the defendant no. ..... this is the interest of the customs department as far as that appeal is concerned.as narrated earlier, initially customs authority had made an ..... 6,23,48,25,388/- with interest thereon at the rate of 24% per annum from the ..... the appellants through their counsel extensively argued the matter and relied upon various case laws saying that theirs were sovereign dues and that they had the first priority over the other claimants including the secured creditors like icici bank and other financial institutions.however, by his order dated 31.8. ..... that the lis was between the financial institutions and the borrower, that the claim of the appellants could not be considered as arrears of land revenue and that the government dues were having no priority unless the statute itself provided for it.the appeal filed against that order being appeal no. ..... above, once again in the debts recovery tribunal-iii, mumbai seeking permission to confiscate the property/goods with respect to which the court receiver had been appointed, for the recovery of their dues on the ground that they had priority over the icici bank, which was a secured creditor. .....

Leo Suzind Fisheries Ltd. and ors. Vs. State Bank of India

Court : DRAT Mumbai

Reported in : IV(2004)BC251

..... thus, allegation of the appellants is that because of the negligence and laches on the part of the bank and the receiver, the vessel sank and that the bank did not take any due care or diligence for the upkeep of the vessel.the contention of the appellants is that there was gross negligence on the part of the bank as a result vessel "mother pearl" which was valued at approximately rs. ..... 2 crores towards the insurance claim is also prayed.further, in the alternative, an inquiry into damages suffered and a decree for such sum that would be found due and payable was also sought, prayer for interest and costs also was made. ..... subsequently civil suit came to be transferred to debts recovery tribunal, mumbai upon the establishment of the debts recovery tribunal under section 31 of the recovery of debts due to banks and financial institutions act, 1993.4. ..... 1,37,74,229.02 with interest thereon @ 17.75% p.a. ..... thus, contention of the appellants is that due to the sinking of the vessel "mother pearl" the appellants suffered loss and they have attributed the said loss to the negligence of the bank and the receiver. ..... 2 crores towards the insurance claim; (c) alternatively, an inquiry into the damages suffered and a decree for such sum that would be found due and payable; 9. .....

Punjab National Bank Vs. Tata Infotech Ltd.

Court : DRAT Mumbai

Reported in : II(2005)BC16

..... and financial institutions act, 1993 defines the "debt" as follows: "section 2(g) 'debt' means any liability (inclusive of interest) which is claimed as due from any person by a bank or a financial institution or by a consortium of banks or financial institutions during the course of any business activity undertaken by the bank or the financial institution or the consortium under any ..... officer held that the amount which was sought to be recovered by the applicant bank from the defendants, did not amount to "debt" within the meaning of section 2(g) of the recovery of debts due to banks and financial institutions act, 1993 and, therefore, the tribunal did not have jurisdiction to entertain and try the original application filed by the bank. ..... states as follows: "an act to provide for the establishment of tribunals for expeditious adjudication and recovery of debts due to banks and financial institutions and for matters connected therewith or incidental thereto".united bank of india v. ..... it is to be kept in mind that the necessity for enacting the recovery of debts due to banks and financial institutions act, 1993 for the purpose of recovering the loans and enforcement of ..... 10 lacs with interest at the rate of 16% per annum with quarterly rests ..... claim for damages for the alleged failure of the respondents in providing software solution to the bank would not amount to "debt" as contemplated under the provisions of the recovery of debts due to banks and financial institutions act, 1993. .....