BANK OF BARODA Vs. DR. BAVAGUTHU RAGHURAM SHETTY

JUDGEMENT

(1.) FACTS:

(2.) The first defendant is a businessman who is stated to have multiple businesses spread over the world including India, United Arab Emirates, United Kingdom and United States of America etc. The second defendant is the wife of the first defendant and both the defendants are the residents of City of Bengaluru. It is pleaded in the plaint that the first defendant controls various companies/entities, having their branches at Abu Dhabi, Oman and Mumbai etc. It is stated in the plaint that the plaintiff bank has sanctioned various credit facilities/loans to the said companies and to the said entities. The details thereof have been set out in paragraph 5 of the plaint. Clean demand loan facility has also been extended by the plaintiff to the first defendant. The case made out in the plaint is that as on 5th May, 2020, the plaintiff had advanced an aggregate sum of Indian Rs.2077,44,00,000 (Rupees Two Thousand Seventy Seven Crores and Forty Four Lakhs) to the first defendant and the companies/entitles controlled by him.

(3.) In paragraph 9 of the plaint, the plaintiff has set out the details of the personal guarantees executed by the first defendant in favour of the plaintiff. The details of the said personal guarantees are as under: