UNITED BANK Vs. HOTEL SOUTHWAY

JUDGEMENT

(1.) IN compliance with the Order No. 51 made by this Tribunal on Tuesday, April 2, 2002, Shri Mrinal Kanti Ghosh, the Manager of the applicant Bank has appeared this day before this Tribunal along with one application being meant for the necessary order to be made and passed in this case, instituted on September 5, 1994, against the defendants, M/s. Hotel Southway and Shri Nisith Chandra Ghosh and Shri Manindra Kumar Ghosh for a sum of Rs. 12,28,481/- to be made jointly or severally by those three defendants to the said plaintiff Bank, under Section 19 of the Recovery of Debts Due to Banks and Financial INstitutions Act, 1993 before the learned D.R.T-1 at Kolkata.

(2.) In the said application, particularly at paragraph Nos. 1 and 2 the following have been raised by the applicant Bank:

(3.) IN support of the above contention, Shri Mrinal Kanti Ghosh, the Manager of the Jorasanko Branch of the applicant Bank has submitted the said letter of approval before this Tribunal. As it is appearing from the contents of the said letter, the compromise was for a total amount to be paid by the defendant-debtors, which is nothing but Rs. 8,33,370.47 paise to be made in three unequal instalments; the first of which was to be paid on November 30, 2001 for an amount of Rs. 4,00,000/- to be followed by another instalment to be made payable on December 31, 2001 for an amount of Rs. 3,00,000/-; and further to be followed by the last instalment to be paid on January 31, 2002 for a sum of Rs. 1,33,370.47 paise.