PUNJAB AND SIND BANK Vs. SAVICO INTERNATIONAL

JUDGEMENT

(1.) APPELLANT-Punjab and Sind Bank (hereinafter referred to as 'the appellant-Bank') filed the Civil Suit for the recovery of Rs. 15,15,308.67 with pendente lite and future interest at 24.75% per annum with quarterly rests from date of suit till realisation and costs against the respondents herein (who are defendants 1 to 4 in the suit; and hereinafter referred to as "the defendants") before the Civil Judge, Senior Division, Jalandhar. The same was subsequently transferred to Debts Recovery Tribunal, Jaipur (hereinafter referred to as 'the DRT') after the passing of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and taken on the file of the DRT as O.A. 353/1996.

(2.) The learned Presiding Officer of the DRT passed the impugned final order dated 19.5.2000 entitling the appellant-Bank to recover Rs. 3,60,119.62 with future interest @ 14.50%'per annum with quarterly rests from 1.2.1993 till realisation. He dismissed the rest of the claim.

(3.) I have heard the learned Counsel for the appellant-Bank and perused the records.