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2018 Supreme(Guj) 1012

AKIL KURESHI, B.N.KARIA
Indian Overseas Bank – Appellant
Versus
Jason Deckor P. Ltd. – Respondent


Advocates Appeared:
Tejas Satta, Adv., Anip A Gandhi, Adv.

JUDGMENT

Akil Kureshi, J.

Petitioner-Indian Overseas Bank [hereinafter to be referred to as, "the petitioner Bank"] has challenged an order dated 2nd April 2018 passed by the learned Judge, Commercial Court, Ahmedabad below Exh. 16 in Commercial Civil Suit No. 152 of 2017.

2. Facts leading to the said challenge are as under :

3. The petitioner is a public sector Bank. The respondents original plaintiffs had availed credit facilities from the petitioner-Bank. According to the Bank, the borrowers committed default in making repayment, due to which the Bank had taken steps under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ["SARFESI Act" for short] and the Recovery of Debts & Bankruptcy Act, 1993 ["RDBA Act" for short] and after which the respondents instituted Commercial Civil Suit No. 152 of 2017 against the Bank and prayed that the Bank may be directed to pay a sum of Rs. 30 Crores by way of damages and loss caused to the plaintiffs and a further sum of Rs. 10 Crores for loss of reputation. In the plaint, the plaintiffs have averred that the Bank had instituted proceedings for recovery of a sum of Rs. 18,89,05,602/- under the


















































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