BANK OF BARODA Vs. BHARAT AGENCIES
DEBTS RECOVERY APPELLATE TRIBUNAL
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(1.) THE solitary point standing for the judicial determination of this Tribunal has factually arisen on Monday, March 24, 2004 when this Tribunal has received one application from the defendant Nos. 1 and 3 giving rise to the point. THE point may be stated in the following words:
Whether this Tribunal should give the evidentary value to the contents of the application as above as well as the Annexures A and B to that application? and
Whether this Tribunal should also lay stress on the application which has been accompanied by one affidavit affirmed by Mr. N. Nageswar Rao (hereinafter referred to as the 'defendant No. 2') to the neglect of the written statement presented by the said defendant on December 22, 2003 and the written statement of the other defendants presented before this Tribunal on the aforementioned day and date?
(2.) For the reason of assigning the judicial importance to the application of the defendants, this Tribunal has taken note of the following features of the said application:
(i) The said application has been made subsequent to the written statements of the defendants, being very much on the record of this adjudicating Tribunal;
(ii) The said application has been an application wherein the defendants have abandoned their defences earlier taken out expressly in the written statements of themselves;
(iii) In the application made on March 24, 2004, the defendants have been, if the Annexures A and B to the said application are weighed really, found in admitting and acknowledging the debt liability of themselves to the suing Bank.
For the reason of lending support to the above material finding, this Tribunal thinks it fit to lay stress on the contents of the paragraph No. 7 to the Annexure B of the above application, which is, in fact, a letter written by Mr. N. Nageswar Rao to the Branch Manager of the applicant Bank. At that paragraph the author of the said letter is admitting in clear words the liability towards the applicant Bank for himself and on behalf of the other defendants in the manner as follows :
"The total outstanding loan amount as on Dated 18.2.2002 is Rs. 23,41,257.84. It includes interest upto 18.2.2002.
The interest was calculated from 11.3.1998 to 18.2.2002 is Rs. 11,54,862.51.
(3.) THE paragraph has also two characteristic features, viz. (i) the defendants are admitting as well as accepting the total outstanding loan amount as on February 18, 2002 to the extent of Rs. 23,41,257.84 p. THE said sum also includes, according to the author of the said letter, the interest calculated upto February 18, 2002; and the interest amount has been a sum of Rs. 11,54,862.51 p. True to say, the above total outstanding amount which has been clearly accepted by the defendants in that letter (particularly at paragraph No. 7) has been found in tallying with a sum of Rs. 23,41,257.84 p, as claimed by the applicant Bank in its Statement of Accounts (page 282); (ii) the second feature of the said paragraph is a request for the abandonment of the interest amount i.e. Rs. 11,54,862.51p. THE defendants have made such request in a piteous tone to the applicant Bank. For such purpose, the words of the defendants are being further quoted hereinbelow:
"I pray your Bank to wipe out the said interest amount of Rs. 11,54,862.51.";
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