State Bank of India v. Krishna Polymer Technology
Case brief
What is this about?
Debts Recovery Tribunal allowed Original Application filed by State Bank of India for recovery of Rs. 22,85,635 along with interest and costs against defendants who appeared ex-parte. Recovery certificate issued.
What did the court decide?
Defendants liable to pay Rs. 22,85,635 with future interest @ 10.05% p.a.; applicant entitled to proceed against properties and costs.