UNION OF INDIA Vs. UCO BANK

JUDGEMENT

(1.) The Union of India is represented.

(2.) Respondent numbers 1 and 4 are represented and the other respondents are found absent on call despite service of notice upon them.

(3.) It is submitted on behalf of the petitioner that opposite party no. 3 Bharat Process and Mechanical Engineers Ltd. obtained credit facility from respondent no. 1 UCO Bank and defaulted in repayment of the same resulting in institution of a civil suit by opposite party no. 1. The petitioner stood guarantor to such loan to the extent of Rs. 250 lakhs. The civil suit was transferred before the DRT-1 and registered as T.A. No. 216 of 1994. The said case was allowed with the following observations:-