STATE BANK OF INDIA Vs. JAGDAMBA MEDICOS

JUDGEMENT

(1.) THIS appeal against order dated 1.8.2000 passed by Mr. S.N.P. Dave, Presiding Officer, Debts Recovery Tribunal, Jaipur in O.A. No. 4/2000, State Bank of India v. Jagdamba Medicos and Ors. has been filed by State Bank of India, which had filed the O.A.

(2.) The claim of the State Bank of India for a sum of Rs. 14.54.325/- along with costs and future interest @ 6% per annum from the date of institution of recovery proceedings, i.e. 13.12.1999 till relization from all the defendants jointly and severally has been decreed. It has further been directed that the Bank would also be entitled to recover this amount from the safe of hypothecated goods and mortgaged properties of the defendant Nos. 2 and 3.

(3.) SINCE Mr. S.N.P. Dave, the learned Presiding Officer of the Debts Recovery Tribunal, Jaipur had awarded pendente lite and future interest only @ 6% per annum in his final orders in several other Original Applications moved by several Banks and Financial Institutions against which appeals have been filed in this Appellate Tribunal solely on the point of grant of lesser rate of pendente lite and future interest, I considered it proper to hear arguments of all the respective Counsels and then to decide all such appeals at one point of time. Consequently, I listed several such appeals on a particular date and heard arguments of learned Counsels for the parties.