B.V.NAGARATHNA, BELLUNKE A.S.
Karnataka State Financial Corporation – Appellant
Versus
Sree Lakshmi Narasimha Swamy Parboiled Rice Industries – Respondent
JUDGMENT :
B.V. Nagarathna, J. - Though these appeals are listed for admission, with the consent of the learned counsel on both sides, they are heard finally.
2. These appeals are also connected together as they arise out of the common order dated 10.09.2014 passed by the learned Principal Sessions Judge, Bellary.
3. Briefly stated the facts of the case are that the appellant- Karnataka State Financial Corporation (hereinafter referred to as the 'KSFC' for the sake of convenience) filed petitions under Section 31(1)(a)(a) of the State Financial Corporation Act, 1951 (hereinafter referred to as the 'SFC Act' , for the sake of convenience) against the respondents herein, who are both the sureties and defaulters, seeking an order against them for payment of Rs.1,22,80,510/- in Miscellaneous No.53 of 2014 and Rs.91,86,821/- in Miscellaneous No.54 of 2014 from 10.07.2014 and for grant of future interest at the rate of 17.5% per annum on the said amount till the date of realization with quarterly rests. The said petitions have been rejected by the learned Principal Sessions Judge, Bellary. Being aggrieved by the said common order, the KSFC has preferred these appeals.
4. We have heard learne
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