SUSHMA RAINA Vs. CANARA BAN

JUDGEMENT

(1.) This petition is directed against an order dated 1st February, 2018 passed by the Debt Recovery Appellate Tribunal ( 'DRAT ') in Misc. Cas. No 64/2018 in Appeal No. 151/2016.

(2.) The background to the present petition is that the Petitioner is an employee of a sister concern of Respondent No. 2 company i.e. Vimoha Exports Pvt. Ltd. It is stated that the said Respondent company had availed of some credit facility from Respondent No. 1, Canara Bank, in connection with which security documents were executed way back on 31st December, 1994.

(3.) The Petitioner claims that the notices issued by the Bank for recall of the loan advanced to Respondent No. 2 company was not received by her. Be that as it may, the undisputed fact is that Respondent No. 1 bank filed OA No. 351/1999 in the Debt Recovery Tribunal-II Delhi ( 'DRT-II ') on 20th August, 1999 against Respondent No. 2 company and others, which included the present Petitioner. On 26th November, 2012, the DRT-II passed an order holding that Respondent No. 1 bank was entitled to recover a sum of Rs. 26, 83, 063/- from the defendants to that application, which included the present Petitioner, jointly and severally, together with interest at the rate of 12% per annum from 28th August, 1999 till the date of recovery. The defendants were then asked to appear before the Recovery Officer on 28th January, 2013.