AAYUSH PAR OVERSEAS Vs. CHIEF MANAGER UCO BANK

JUDGEMENT

(1.) BRIEF facts of the case are that the petitioner firm applied before the non-petitioners for sanction of Export Credit Limit and after considering an doing all the formalities the limit was sanctioned towards pre-shipment limit for Rs. 70 lacs, towards post shipment limit for Rs. 50 lacs and limit of Foreign L. C. for Rs. 30 lacs.

(2.) THE security was given to the Bank by the guarantor Shri Shyam Lal son of Late Shri Radhey Shyam Sharma and portion of house no. 1658, Ballabh Bhawan, Jat Ke Kuwe Ka Rasta was mortgaged.

(3.) THE petitioner also referred the meaning of non performing assets: NPA means "an asset or account of a borrower, which has been classified by a bank or financial institution as sub standard, doubtful or loss asset, in accordance with the directions or under guidelines relating to asset classifications issued by the Reserve Bank".