MOHD BASHEER AND CO Vs. STATE BANK OF HYDERABAD

JUDGEMENT

(1.) The complainant is a manufacturer and exporter of leather. He is engaged in the business of purchasing raw skins and finishing them for export and for this purpose is running a factory at Warangal in Andhra Pradesh.

(2.) THE complainant had raised loans totaling to Rs. 91 lakhs by 1981 from the Opposite Party (State Bank of Hyderabad) and against which he had mortgaged his movable and immovable properties.

(3.) THERE was a fire in the factory of the complainant on the 10th of July, 1984 which was attributed to a short circuit. According to the complainant this resulted in a loss of Rs. 71 lakhs to him by way of damage to the building, machinery and stocks. "A major part of the finished leather ready for export was destroyed".