REGENT COMPUTRONICS PVT. LTD.

Everest Fincap Pvt. Ltd. Appellant

V/S

Krishna Realtors Respondents

Referred Judgements :-

LICA (P) LTD. (1) V. OFFICIAL LIQUIDATOR [REFERRED TO]
BAKUL M. KAPADIA V. BANK OF INDIA [REFERRED TO]
N.G. GEORGE V. SHIRLY VARKEY [REFERRED TO]
STATE OF ORISSA VS. HARINARAYAN JAISWAL [REFERRED TO]
ALLAHABAD BANK VS. CANARA BANK [REFERRED TO]
RAJENDER SINGH VS. RAMDHAR SINGH [REFERRED TO]
HARYANA FINANCIAL CORPORATION VS. JAGDAMBA OIL MILLS [REFERRED TO]
BANARSI VS. RAM PHAL [REFERRED TO]
M C D VS. STATE OF DELHI [REFERRED TO]
PRESTIGE LIGHTS LTD VS. STATE BANK OF INDIA [REFERRED TO]
K D SHARMA VS. STEEL AUTHORITY OF INDIA LTD [REFERRED TO]
SHIVANAND GAURISHANKAR BASWANTI VS. LAXMI VISHNU TEXTILE MILLS [REFERRED TO]
ELIZABETH JACOB VS. DISTRICT COLLESTOR [REFERRED TO]
DALIP SINGH VS. STATE OF U P [REFERRED TO]
NARESH KUMAR VS. DEPARTMENT OF ATOMIC ENERGY [REFERRED TO]
RAJENDRA PRASAD GUPTA VS. PRAKASH CHANDRA MISHRA [REFERRED TO]
CAUVERY COFFEE TRADERS VS. HORNOR RESOURCES INTERN CO LTD [REFERRED TO]
RAM KISHUN VS. STATE OF U P [REFERRED TO]
SHYAMLAL PUROHIT VS. JAGANNATH RAY [REFERRED TO]
A SUBBARAYA MUDALIAR VS. K SUNDARARAJAN JOINT RECEIVER [REFERRED TO]
RATNASAMI PILLAI VS. SABAPATHY PILLAI [REFERRED TO]
S SOUNDARARAJAN VS. KHAKA MAHOMED ISMAIL SAHEB OF MESSRSROSHAN AND CO [REFERRED TO]
PRAVIN GADA VS. CENTRAL BANK OF INDIA [REFERRED TO]
HARDEVINDER SINGH VS. PARAMJIT SINGH [REFERRED TO]
BANK OF MAHARASHTRA VS. PANDURANG KESHAV GORWARDKAR [REFERRED TO]
RAM PRAKASH AGARWAL VS. GOPI KRISHNAN [REFERRED TO]
STATE OF PUNJAB VS. DHANJIT SINGH SANDHU [REFERRED TO]

JUDGEMENT

(1.) The Petitioners have approached this Court being aggrieved by order dated 22nd August, 2008 passed by the Debt Recovery Appellate Tribunal, Mumbai (for short "DRAT") in Misc. Appeal No. 36 of 2006 and 52 of 2006, arising out of the order dated 29th November, 2005 passed by the Debt Recovery Tribunal (for short "DRT").

(2.) The facts in brief of which the present petition arises are as under:

(3.) The immovable property, which is subject matter of the present petition, is situated at 51, Maulana Azad Road, Gadge Maharaj Chowk, Mumbai admeasuring 28,437.29 sq. mts. (hereinafter referred to as the "said property") belonging to M/s. Bradbury Mills Ltd. (hereinafter referred to as the "said Company). It appears from the record that originally the management of the said Company was with Ruia Group i.e. Respondent Nos. 5 to 9. The management of the said Company somewhere in June, 1975 came to be transferred to Karnani group i.e. Respondent Nos. 10 to 14. The said Company was advanced a loan by Respondent No. 3 - United Commercial Bank (for short "UCO Bank") and Respondent No. 4 Bank of India (for short "BOI"). The Ruia group as well as Karnani group had executed security documents to secure the amounts advanced by the Respondent Banks. The Respondent Bank issued notices dated 28th April, 1978 to deceased Ashok Karnani as well as Respondent Nos. 10, 11 and Premnarayan Lakhani (Respondent No. 2 herein), demanding payment of the amounts mentioned in the said notices in the capacity as guarantors. On non payment of the said amount, UCO Bank filed suit No. 597 of 1978 on 3rd May 1978 (hereinafter referred to as the "UCO suit") in this Court, praying for a decree for recovery of Rs. 13.63 crores with further interest and for sale of mortgaged property, etc. In the said suit, the said Company, Ruia group and Karnani group, the BOI and the Municipal Corporation of Greater Mumbai (for short the "MCGM") were added as defendants. Respondent No. 2 Premnarayan Lakhani was defendant No. 7, whereas Ashok Kumar Karnani was Defendant No. 9.

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EVEREST FINCAP PVT. LTD. Vs. KRISHNA REALTORS

Referred Judgements :-

JUDGEMENT

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