Union Bank of India v. Sri Lakshmi Narsimha Foods and Masalas
Case brief
What is this about?
The Debts Recovery Tribunal allowed the applicant bank's original application for recovery. The defendants, appearing ex-parte, were held jointly and severally liable to pay the claimed sum with interest and costs.
What did the court decide?
Defendants jointly and severally liable to pay Rs. 26,55,332.78 with future interest at 11% p.a. and costs.