SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA Vs. KRISHNA IND CHEM P LTD

JUDGEMENT

(1.) THE applicant Bank has filed this O.A. against the defendant for recovery of the suit claim of Rs. 1,21,51,598/-(Rupees one crore twenty-one lakhs fifty-one thousand five hundred and ninety-eight only) with future interest @ 21.5% p.a. from the date of filing till the date of realization and for sale of the schedule mentioned properties with costs,

(2.) Brief facts rising to this OA are as follows:

(3.) I considered the facts and circumstances of the present case and perused the pleadings of the parties and the documents produced and relied on by the applicant Bank. After considering the rival contentions made by the parties in their pleadings, in proof affidavit, the following issues are framed for consideration which are necessary for disposal of this OA :