SYNDICATE BANK Vs. B C KOTRAPPA
DEBTS RECOVERY APPELLATE TRIBUNAL
Click here to view full judgement.
Pratibha Upasani, -
(1.) THIS substantive appeal is filed by the appellant/applicant Bank being aggrieved by the judgment and Order dated 17.3.2004, passed by the learned PQ of DRT, Bangalore, in OA-369/1996. By the impugned Order the learned PO allowed with cost the claim of the Bank directing defendant No. 1 Mr. B.C. Kotrappa, to pay to the applicant Bank amount of Rs. 14,14,052.28 p with subsequent interest at the rate of 21% per annum with quarterly rests from the date of filing of the application till the date of realisation. The learned PO, however, dismissed the claim of the Bank as against defendant No. 2 Smt. B.H. Seshamma, and defendant No. 3 Dr. V. Venkatesh. The appellant Bank is aggrieved because of the dismissal of claim against defendant Nos. 2 and 3 and hence, appeal is limited to that extent.
(2.) I have heard Mr. P. Sreenivasulu, Advocate for the appellant Bank. Respondent did not appear though they were duly served. I have also gone through the proceedings and in my view, the learned PO has correctly passed the order.
Few facts which are required to be stated are as follows:
(3.) DEFENDANT No. 1 Mr. B .G. Kotrappa approached the appellant Bank at its Gandhinagar Branch for various credit facilities which were granted to him in the years 1980 and 1981. DEFENDANT Nos. 2 and 3 joined him as co-obligants and they executed various loans and guarantee agreements. Subsequently, on the request of defendants all the three accounts relating to the three credit facilities were transferred from Gandhinagar Branch to the Jayamahal Branch of plaintiff Bank. The accounts were duly renumbered as PSL 4/82, SOD 319 and OSL TL 1/82, by the present branch. The accounts, however, became irregular in the matter of repayment and in spile of repeated requests the defendants failed to keep up their promise. The business was also stopped, DEFENDANTs became thus defaulters. The Bank was, therefore, constrained to file OA. The Bank's claim was comprising the dues under these three accounts which turned out to be outstanding dues to the applicant Bank. It was the Bank's case that the defendants executed acknowledgement of debts from time-to-time right from 10.8.1983 to 20.1.1990.;
Copyright © Regent Computronics Pvt.Ltd.