SUDHANSU JYOTI MUKHOPADHAYA, M.VENUGOPAL
State Bank of India Kotagiri Branch – Appellant
Versus
Chokkalingam & Others – Respondent
S.J. Mukhopadhaya, J.
This revision petition under Article 227 has been preferred by State Bank of India, Kotagiri Branch, against order dated 10th Sept., 2007, passed by Debts Recovery Appellate Tribunal, Chennai, (hereinafter referred to as DRAT) in M.A. No.40/2007. By the said order, DRAT dismissed the appeal affirming the order dated 17th Jan., 2007, passed by Debts Recovery Tribunal, Coimbatore, (hereinafter referred to as DRT).
.2. The case of the petitioner-Bank is that respondents 1 to 3, who are the partners of the firm, M/s.Sree Vari Corporation, initially obtained crop loan on 14th Dec., 1996. Subsequently, the partnership firm, through respondents 1 to 3, on 23rd Jan., 1998, also obtained loan to the tune of Rs.70 lakhs, Rs.20 lakhs towards cash credit and Rs.50 lakhs towards term loan. While taking such loan, properties at survey No.678 and 679 of Thekkampatti village were mortgaged. The original documents were deposited with the bank. Pursuant to one time settlement in respect of loan amount of Rs.70 lakhs, the borrower, partnership firm, paid a sum of Rs.74,34,485/= in full and final settlement of the loan account. Thereafter, respondents 1 to 3, who are
1. Syndicate Bank Vs Vijay Kumar & Ors. AIR 1992 SC 1066 (Relied)
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