Punjab National Bank v. Ms Global Traders and Ors.
Case brief
What is this about?
Debts Recovery Tribunal, Kolkata allowed an ex-parte application by Punjab National Bank for recovery of a debt owed by Global Traders and its promoters, declining to interfere with the admitted claim for Rs. 20,26,008.42.
What did the court decide?
Recovery of Rs.20,26,008.42 plus interest from respondents; bar on disposition of property; 30-day repayment period.