176 of 1991 on the file of sub court, Cherthala.
Page 1 of 7 The appellant is the son of late C.V. Kunjikuttan, who was carrying on business as a civil companytractor.
The DRT vide Judgment dated 10.08.2001 allowed the proceedings initiated by the Bank and accordingly declared that the debts due to the bank is Rs.
The Bank sanctioned him an overdraft facility of Rs.
Subsequently the proceedings were transferred to Debts Recovery Tribunal for short DRT on its formation under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
28,50,707.03 together with interest 25 per annum companypounding with quarterly rests from 17.7.1991 i.e. from the date of filing of the suit till the date of the Judgment with a simple interest at the rate of 19.4 per annum from 11.08.2001 till realisation.
9 lakh which was secured by late V. Kunjikuttan and his children including the appellant herein.
The relief prayed by the Bank was to Page 2 of 7 realize a sum of Rs.
He died on 8th September, 1989 and on his demise, the business was taken over by his legal heirs.
The overdraft facility allowed to C.V. Kunjikuttan was secured by security of immovable property, which was companylateral security.
Said C.V. Kunjikuttan carried on business of companytracts in his individual capacity.
C.V. Kunjikuttan approached the respondent bank in 1973 for sanction of an over draft financial facility.
While C.V. Kunjikuttan was alive he had availed of certain facilities from Dhanalakshmi Bank Ltd., Cherthala Branch, Alappuzha District Respondent herein for short the Bank .
28,50,707.03 from the appellants, if necessary, by sale of the suit scheduled properties.
Dr. Mukundakam Sharma, J. Leave granted.
This appeal arises out of the judgment and order dated 17.07.2008 passed by the Division Bench of the High Court of Judicature at Madras in Writ Petition civil No.
The appeal from the said order was dismissed by the Appellate Tribunal as also by the Division Bench of the High Court of Madras.
28664 of 2003 dismissing the writ petitions filed by the appellant and companyfirming the judgment passed by the Debt Recovery Appellate Tribunal, Chennai hereinafter referred to as the Appellate Tribunal .
The respondent is a scheduled bank and has its principal place of business at Thrissur in Kerala and Branches in various other places.
3 lakh.
As the said amount was number repaid the bank filed a suit being O.S. No.
