The Debts Recovery Tribunal allowed the bank's application for a Recovery Certificate. It directed the borrowers and guarantor to repay Rs. 11.80 crores with 9% simple interest, permitting recovery via asset sale.
Direction to realize aggregate sum of Rs. 11.80 crores from respondents jointly and severally with 9% simple interest via sale of assets.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY TRIBUNAL –II AT CHENNAI
Dated this 18th day of March, 2024
PRESENT: SHRI T. RAJESH
PRESIDING OFFICER
TA No.875 of 2023
(Originally filed before DRT-I Chennai as OA No.66 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.875 of 2023)
Union Bank of India (Corporation Bank) Auduthurai Branch No.9 G, Kumbakonam Mayavaram Main Road Aduthurai 612 101 Thiruvidaimaruthur Taluk Thanjavur District ….. Applicant
Vs
1
2
3
4
5
Cuddalore District 607 106.
6
OR Shree Ambika Sugars Ltd., No.12, Nungambakkam High Road, 5th Floor, ELDARODO, Chennai - 600 034.
…Defendants
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Counsel for the Applicant Bank : M/s K.S. Sundar & S. Booma Counsel for Defendants : Ex-parte
FINAL ORDER
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(XL) A sum of Rs.21,38,898/- from defendants 40 and 51. (XLI) A sum of Rs.22,81,487/- from defendants 41 and 51. (XLII) A sum of Rs.22,81,487/- from defendants 42 and 51 (XLIII) A sum of Rs.25,66,712/- from defendants 43 and 51 (XLIV) A sum of Rs.28,50,856/- from defendants 44 and 51 (XLV) A sum of Rs.28,50,856/- from defendants 45 and 51 (XLVI) A sum of Rs.28,50,856/- from defendants 46 and 51 (XLVII) A sum of Rs.28,50,856/- from defendants 47 and 51 (XLVIII) A sum of Rs.28,50,856/- from defendants 48 and 51. (XLIX) A sum of Rs.28,50,856/- from defendants 49 and 51.
(a) The applicant is carrying on various banking business as per Banking Regulations Act, including granting of loan to the Gang Leaders (Contractors) identified by the Sugar Mills towards the cutting and harvesting and transporting charges and allied agricultural activities. The sugarcane is a commercial crop and when it is ready for harvest it has to be cut and transported to the 51st defendant Sugar Mills, enabling it for crushing and processing. The 51st defendant empanelled Gang Leaders / Contractors for harvesting, cutting and for transporting at the costs of the farmers. The said harvesting, cutting, handling and transporting charges will be deduced from the sale price of the sugarcane payable to the farmer and given to the Gang Leader (for payment to the Gang). Towards the aforesaid arrangement, the
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contractors / gang leaders receive advances from the 51st defendant and 51st defendant earmarks the said charges and an advance received by the Gang Leader from and out of the sale price of the sugar cane and it is also liable to pay the balance amounts payable to the defendants 1 to 50.
(b) The 51st defendant executed Composite Master Guarantee Agreement dated 04.12.2015 in favour of applicant upto a limit of Rs.49.50 crores and requested loans in favour of the Gang Leaders identified by the 51st defendant. The 51st defendant requested loan for the defendants 1 to 50 and guaranteed the repayments of the 50 loans to be granted.
(c) The 51st defendant as guarantor requested and recommended grant of loan to the defendants 1 to 50 and based on the said request the applicant sanction Short Term Loan to the defendants and the defendants executed necessary loan and security documents in favour of the applicant and also hypothecated the book debts and receivables due from the defendants. The details of the loans availed and documents executed as follows: -
| Defendants |
Date of letter of contractor |
Date of sanction |
Amount | Documents executed **on ** |
|---|---|---|---|---|
| 1st defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 2nd defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 3rddefendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 4th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 5th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 6th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 7th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 8th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 9th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 10th defendant |
05.12.2015 | 05.12.2015 | 18,00,000/- | 05.12.2015 |
| 11th defendant |
05.12.2015 | 05.12.2015 | 15,00,000/- | 05.12.2015 |
| 12th defendant |
08.12.2015 | 08.12.2015 | 15,00,000/- | 08.12.2015 |
| 13th defendant |
08.12.2015 | 08.12.2015 | 15,00,000/- | 08.12.2015 |
| 14th defendant |
08.12.2015 | 08.12.2015 | 15,00,000/- | 08.12.2015 |
| 15th defendant | 08.12.2015 | 08.12.2015 | 15,00,000/- | 08.12.2015 |
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| Defendants |
Date of letter of contractor |
Date of sanction |
Amount | Documents executed **on ** |
|---|---|---|---|---|
| 16th defendant |
08.12.2015 | 08.12.2015 | 15,00,000/- | 08.12.2015 |
| 17th defendant | 09.12.2015 | 09.12.2015 | 15,00,000/- | 09.12.2015 |
| 18th defendant |
09.12.2015 | 09.12.2015 | 15,00,000/- | 09.12.2015 |
| 19th defendant |
09.12.2015 | 09.12.2015 | 18,00,000/- | 09.12.2015 |
| 20th defendant |
05.12.2015 | 05.12.2015 | 17,00,000/- | 05.12.2015 |
| 21st defendant |
09.12.2015 | 09.12.2015 | 16,00,000/- | 09.12.2015 |
| 22nd defendant | 11.12.2015 | 11.12.2015 | 17,00,000/- | 11.12.2015 |
| 23rd defendant |
11.12.2015 | 11.12.2015 | 16,00,000/- | 11.12.2015 |
| 24th defendant | 11.12.2015 | 11.12.2015 | 18,00,000/- | 11.12.2015 |
| 25th defendant | 11.12.2015 | 11.12.2015 | 17,00,000/- | 11.12.2015 |
| 26th defendant |
11.12.2015 | 11.12.2015 | 18,00,000/- | 11.12.2015 |
| 27th defendant |
14.12.2015 | 14.12.2015 | 18,00,000/- | 14.12.2015 |
| 28th defendant |
14.12.2015 | 14.12.2015 | 17,00,000/- | 14.12.2015 |
| 29th defendant |
14.12.2015 | 14.12.2015 | 17,00,000/- | 14.12.2015 |
| 30thdefendant | 14.12.2015 | 14.12.2015 | 18,00,000/- | 14.12.2015 |
| 31stdefendant |
14.12.2015 | 14.12.2015 | 16,00,000/- | 14.12.2015 |
| 32nd defendant |
14.12.2015 | 14.12.2015 | 18,00,000/- | 14.12.2015 |
| 33rd defendant | 14.12.2015 | 14.12.2015 | 18,00,000/- | 14.12.2015 |
| 34th defendant |
14.12.2015 | 14.12.2015 | 17,00,000/- | 14.12.2015 |
| 35th defendant | 14.12.2015 | 14.12.2015 | 15,00,000/- | 14.12.2015 |
| 36th defendant |
14.12.2015 | 14.12.2015 | 15,00,000/- | 14.12.2015 |
| 37th defendant |
14.12.2015 | 14.12.2015 | 17,00,000/- | 14.12.2015 |
| 38th defendant | 14.12.2015 | 14.12.2015 | 15,00,000/- | 14.12.2015 |
| 39thdefendant |
14.12.2015 | 14.12.2015 | 16,00,000/- | 14.12.2015 |
| 40th defendant | 14.12.2015 | 14.12.2015 | 15,00,000/- | 14.12.2015 |
| 41stdefendant | 14.12.2015 | 14.12.2015 | 16,00,000/- | 14.12.2015 |
| 42nd defendant |
14.12.2015 | 14.12.2015 | 16,00,000/- | 14.12.2015 |
| 43rd defendant | 14.12.2015 | 14.12.2015 | 18,00,000/- | 14.12.2015 |
| 44th defendant |
15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
| 45th defendant | 14.12.2015 | 14.12.2015 | 20,00,000/- | 14.12.2015 |
| 46th defendant | 15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
| 47th defendant |
15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
| 48thdefendant | 15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
| 49th defendant | 15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
| 50th defendant | 15.12.2015 | 15.12.2015 | 20,00,000/- | 15.12.2015 |
(d) The 51st defendant engaged in Sugar Mill Industry procures sugarcane by organizing harvesting, transporting Sugarcane from farmers by coordinating with the defendants 1 to 50. The 51st defendant passed resolution dated 24.09.2015 for executing the Guarantee Agreement and authorizing its Chairmain and Managing Director to witness and affix the
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common seal. Accordingly, the Guarantee Agreement was executed by 51st defendant on 04.12.2015. It was agreed that the amount outstanding in respect of the defendants 1 to 50 shall be conclusive as against 51st defendant and it was agreed by the 51st defendant that it will pay the guaranteed amount.
(e) The defendants 1 to 50 availed the abovementioned loan funds and executed necessary loan documents, however, failed and neglected to repay loan amounts as agreed upon and the conduct of the loan accounts were irregular. Therefore, the applicant issued 50 separate demand notices on 10.09.2018, calling upon all the defendants to clear the outstanding amounts.
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Both these issues are gone into and decided together.
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(i) A sum of Rs.21,45,228/- from defendants 1 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(ii) A sum of Rs.21,45,228/- from defendants 2 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(iii) A sum of Rs.21,45,228/- from defendants 3 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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(iv) A sum of Rs.21,45,228/- from defendants 4 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(v) A sum of Rs.21,45,244/- from defendants 5 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(vi) A sum of Rs.21,45,168/- from defendants 6 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(vii) A sum of Rs.21,45,168/- from defendants 7 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(viii) A sum of Rs.21,45,168/- from defendants 8 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full,
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after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(ix) A sum of Rs.21,45,168/- from defendants 9 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets..
(x) A sum of Rs.21,45,168/- from defendants 10 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xi) A sum of Rs.21,43,498/- from defendants 11 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xii) A sum of Rs.21,43,498/- from defendants 12 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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(xiii) A sum of Rs.21,43,498/- from defendants 13 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xiv) A sum of Rs.21,43,498/- from defendants 14 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xv) A sum of Rs.21,43,390/- from defendants 15 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xvi) A sum of Rs.21,43,390/- from defendants 16 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xvii) A sum of Rs.21,42,637/- from defendants 17 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of
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realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xviii) A sum of Rs.21,42,637/- from defendants 18 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xix) A sum of Rs.25,71,161/- from defendants 19 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xx) A sum of Rs.24,28,321/- from defendants 20 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxi) A sum of Rs.22,85,478/- from defendants 21 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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(xxii) A sum of Rs.24,27,283/- from defendants 22 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxiii) A sum of Rs.22,84,503/- from defendants 23 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxiv) A sum of Rs.25,70,060/- from defendants 24 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxv) A sum of Rs.24,27,283/- from defendants 25 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxvi) A sum of Rs.25,70,117/- from defendants 26 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of
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realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxvii) A sum of Rs.25,67,372/- from defendants 27 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxviii) A sum of Rs.24,24,737/- from defendants 28 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxix) A sum of Rs.22,82,109/- from defendants 29 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxx) A sum of Rs.24,24,737/- from defendants 30 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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(xxxi) A sum of Rs.22,82,109/- from defendants 31 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxii) A sum of Rs.25,66,671/- from defendants 32 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxiii) A sum of Rs.25,66,671/- from defendants 33 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxiv) A sum of Rs.24,24,122/- from defendants 34 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxv) A sum of Rs.21,38,898/- from defendants 35 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of
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realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxvi) A sum of Rs.21,38,898/- from defendants 36 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxvii) A sum of Rs.24,24,077/- from defendants 37 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxviii) A sum of Rs.21,38,898/- from defendants 38 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(xxxix) A sum of Rs.21,81,524/- from defendants 39 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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(XL) A sum of Rs.21,38,898/- from defendants 40 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLI) A sum of Rs.22,81,487/- from defendants 41 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLII) A sum of Rs.22,81,487/- from defendants 42 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLIII) A sum of Rs.25,66,712/- from defendants 43 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLIV) A sum of Rs.28,50,856/- from defendants 44 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of
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realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLV) A sum of Rs.28,50,856/- from defendants 45 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLVI) A sum of Rs.28,50,856/- from defendants 46 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLVII) A sum of Rs.28,50,856/- from defendants 47 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLVIII) A sum of Rs.28,50,856/- from defendants 48 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(XLIX) A sum of Rs.28,50,856/- from defendants 49 and 51 jointly and severally together with pendente llite and future interest at the rate of 9%
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simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(L) A sum of Rs.28,50,856/- from defendants 50 and 51 jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
(LI) A sum of Rs.11,80,47,647/- from 51st defendant jointly and severally together with pendente llite and future interest at the rate of 9% simple per annum from the date of filing of the application till the date of realisation in full, after deducting all the amounts recovered and received by them during the pendency of TA and also by selling their other assets.
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19(21)(i) of the RDB Act, read with Rule 16 of DRT (Procedure) Rules, 1993.
(Dictated to PS, transcribed by him, corrected, signed and pronounced by me in Open Court, on this the 18th day of March, 2024)
Sd/(T. RAJESH ) PRESIDING OFFICER DRT-II, CHENNAI
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2 issues framed by the court
Whether the applicant bank successfully proved its claim for recovery of dues against the defaulting borrowers and guarantor?
What orders should be passed regarding the recovery of the principal amount and interest?
Union Bank of India (Corporation Bank) Auduthurai Branch
Mr. K. Ramalingam
Shree Ambika Sugars Ltd.
T. RAJESH
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
