Sabyasachi Bhattacharyya, J. - (1.) The present application under Article 227 of the Constitution of India has been preferred at the instance of borrowers against a judgment and order dated March 23, 2018 passed by the Debts Recovery Appellate Tribunal at Kolkata in Appeal No. 198 of 2012/2009/385/142, whereby Order No. 47 dated April 20, 2009 passed by the Debts Recovery Tribunal in O.A. No. 6 of 2004 was affirmed.
(2.) Upon the borrowers having failed to repay a debt to the opposite party no. 1- Bank, the latter instituted the aforesaid recovery proceedings before the Debts Recovery Tribunal and vide Order No. 47 dated April 20, 2009, the Tribunal allowed such application, inter alia holding that all the defendants, that is, the borrowers and the guarantors, were jointly and severally liable to pay to the applicant-Bank a sum of Rs. 25,91,105.30 p (Rupees Twenty Five Lakh Ninety One Thousand One Hundred Five and Thirty paise) together with simple interest at the rate of six per cent per annum, that the applicant-Bank should deduct the payments received by it during the pendency of the litigation, and that the future interest granted should be calculated in the manner of reducing balance system from the date of filing of the original application till the date of realization. Further consequential directions were given, including a direction upon the applicant-Bank to deduct the payments received by it during the pendency of the litigation. The Registrar of the Tribunal was directed to place the recovery certificate in terms of the order for the issuance of the same in favour of the applicant-Bank under Section 19(22) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (subsequently renamed as Recovery of Debts and Bankruptcy Act, 1993).
(3.) Being aggrieved by the order, the borrowers, who are the present petitioners, preferred Appeal No. 198 of 2012/2009/385/142 before the Debts Recovery Appellate Tribunal at Kolkata. The Appellate Tribunal, by its judgment and order dated March 23, 2018, dismissed such appeal, thereby affirming the order of the Debts Recovery Tribunal.;