Court : Supreme Court of India
Reported in : AIR1996SC3021; JT1996(3)SC164; (1996)2MLJ44(SC); 1996(2)SCALE718; (1996)3SCC392; [1996]3SCR239; 1996(2)LC70(SC)
ORDER1. The first defendant in O.S. 329 of 1967, Munsiff Court, Thirukoilur, has filed this appeal against the judgment of a learned single judge of the Madras High Court rendered in S.A. No. 93 of 1974 dated 27.8.1976, after having obtained special leave in Special Leave Petition No. 4469 of 1977 by order dated 25.1.1978. The plaintiff and the 2nd defendant in the suit are the respondents herein.2. The plaintiff filed the suit for declaration of his title to the suit property and for recovery of possession of the same. The suit property is the northern 33 cents of dry land out of 65 cents in survey No. 217/4 in Payyur village. It belonged to the second defendant and his minor sons. The second defendant executed Ext. B-1 registered usufructuary mortgage dated 12.9.1966 to one Chellian, DW-3, for a sum of Rs. 600. The case put forward by the plaintiff was that the suit property belonged to the second defendant, and he subsequently sold the suit property to him by sale deed Ext. A-1 date...
Tag this Judgment!Court : Supreme Court of India
Reported in : 1996VAD(SC)206; II(1996)BC346(SC); [1997]88CompCas221(SC); JT1996(6)SC37; 1996(4)SCALE675; (1996)5SCC65; [1996]Supp3SCR40
S.C. Agrawal, J.1. Special Leave granted.2. The Karnataka State Financial Corporation, appellant herein, is a Stale Financial Corporation established under the provisions of the State Financial Corporations Act, 1951 (hereinafter referred to as 'the Act'). Respondent No. 1, a company registered under the Companies Act, set up a unit for the manufacture of rubber and like products. The appellant extended finance to the tune of Rs. 14.15 lakhs to respondent No. 1 on March 21, 198.1. In August 1981 the unit of respondent No. 1 commenced production but from its very inception it continued to incur losses. In order to make the unit viable the appellant, on December 14, 1981, re-scheduled the payment of the loan, A further sum of Rs. 1.65 lakhs was sanctioned in March 1984 for the purpose of purchasing a Diesel Generating Set. On October 10, 1986 the appellant extended rehabilitation assistance under the RSR Scheme of IDBI and treating the unit as a sick unit sanctioned a further amount of R...
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