TAMILNADU TEXTILE CORPORATION LTD Vs. SOUTH INDIAN BANK LTD

JUDGEMENT

(1.) THE Tamilnadu Textile Corporation Ltd. is the appellant in this appeal. Originally suit was filed by the Bank in Sub-Court, Sivaganga and decree was passed only as against the borrower respondents 2 to 4 in the appeal.

(2.) When the EP was filed, the appellant was also added as party in the EP since the Textile Mill was taken over by the Tamilnadu Textile Corporation Ltd. as per Tamilnadu Act No. 81/1986. After formation of DRTs, the mailer which was pending in Civil Court was transferred to DRT-2, Chennai and DRT-2, Chennai issued Recovery Certificate under Section 31 (A) of the Act in accordance with the decree passed by the Civil Court.

(3.) NOW the matter has come up for consideration for waiver of amount under Section 21 of the Act.