DHANLAXMI BANK LIMITED Vs. EMERALD MINERAL EXIM LIMITED

JUDGEMENT

(1.) The revisional application has been filed by the Bank being aggrieved by the order dated February 14, 2018 passed in Appeal No. 80 of 2016 by the Learned Debts Recovery Appellate Tribunal arising out of order dated September 20, 2016 passed in Claim Petition No. OA 104 of 2016 by the learned Debts Recovery Tribunal at Kolkata DRT-III (hereinafter referred to as DRT-III).

(2.) The petitioner, filed an application under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the said Act) before the Learned DRT-III, against the opposite parties seeking, to recover a sum of Rs.1,80,32,125.50 (Rupees One Crore Eighty Lakh Thirty Two Thousand One Hundred Twenty Five and Paisa Fifty) only along with interest @14.25% per annum on and from December 12, 2015.

(3.) The claim carried by the petitioner in the original application arose out of a loan sanctioned and disbursed by the petitioner at the request/instance of the principal borrowers, who were impleaded as defendant/opposite parties nos.1 to