Union Bank of India v. M/S. Mahalaxmi Agencies
Case brief
What is this about?
The Debt Recovery Tribunal allowed the bank's application to recover Rs. 24,88,177/- plus interest from defaulters who remained ex-parte, permitting the issuance of a recovery certificate.
What did the court decide?
Defendants liable to pay Rs. 24,88,177/- with interest; Applicant Bank entitled to proceed against properties and granted costs; Recovery Certificate issued.