SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

PREM NARAIN
PRIMUS CHEMICALS LTD. – Appellant
Versus
IFCI LIMITED – Respondent


Advocates Appeared:
Mr. Sanjeev K. Rawat, Advocate, for the Appellant; None, for the Respondent

ORDER

Mr. Prem Narain, Presiding Member.—The present appeal has been filed by the Appellant/complainant, seeking to challenge the order dated 3.9.2016 passed by the Madhya Pradesh State Consumer Disputes Redressal Commission, Bhopal, (in short 'the State Commission') passed in Complaint Case No. 7/2016.

2. The brief facts of the case are that the complainant Company approached O.Ps. for a loan of Rs. 400 lakh. The same was sanctioned on 7.7.1994. Accordingly, certain necessary documents pertaining to the complainant Company for mortgage and hypothecation were handed over to the O.Ps. by the complainant. However, O.P. No. 4 disbursed only a portion of the sanctioned loan. In the year 1999, the O.Ps. revoked the sanction granted and demanded the refund of the partly disbursed loan amount. Consequently, DRT proceedings were initiated against the complainant. The complainant filed cases against the O.Ps., for the irregularities in the execution proceedings. During the pendency of the cases, the complainant and the O.Ps. entered into an agreement for settlement of all dues on certain terms and conditions. Accordingly, the complainant settled the dispute with the O.Ps. and payment of sett

Click Here to Read the rest of this document
1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top