SATYA KUMAR TIBAREWALLA Vs. KARNATAKA STATE INDUSTRIAL INVESTMENT & DEVELOPMENT CORPORATION LTD, BENGALURU

JUDGEMENT

(1.) This appeal is directed against the judgment and order dated 21.09.2016 passed in Mics.No.123/2010 on the file of the IV Additional District Judge, Mysuru ( Trial Court for short).

(2.) For the sake of convenience, the parties are referred to as per their status before the Trial Court.

(3.) The petitioner Corporation has filed the petition under Section 31(1)(a)(aa) of the State Financial Corporation Act, 1951 ( SFC Act for short) against the respondents seeking to pass an order to determine that a sum of Rs.20,55,85,719/- with interest is due from respondent No.1 and direct the respondent Nos.2 and 3 to pay the said amount with interest from 21.12.2009 till realization and also to pass an order to proceed against the personal properties of respondent Nos.2 and 3 in respect of both moveable and immovable properties for the realization of dues of the petitioner Corporation.