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2018 Supreme(Mad) 2850

V.K.TAHILRAMANI, M.DURAISWAMY
Federal Bank Ltd. , Asset Recovery Branch, Chennai – Appellant
Versus
Chairperson, Debts Recovery Appellate Tribunal, Chennai – Respondent


Advocate Appeared:
For the Petitioner:S. Sathiyanarayanan, Advocate.
For the Respondents:Tribunal, M.S. Shanmugasundaram, G. Desingu, Advocates.

JUDGMENT :

M. DURAISWAMY, J.

1. The above Writ Petition has been filed by the petitioner to issue a Writ of certiorari to call for the records of the 1st respondent leading to passing of the order dated 16.04.2018 in R.A.No.34 of 2008 and to quash the same.

2. According to the petitioner, the Bank had sanctioned credit facilities of Rs.30 lakhs to the 2nd respondent in the year 2002. The 2nd respondent was carrying on business in the name and style of Sri Vari Steels as its sole Proprietor. According to the petitioner – Bank, the 3rd respondent is the wife of the 2nd respondent and she stood as a guarantor to the facilities granted to the 2nd respondent. The respondents 2 & 3 executed various loan and security documents such as Promissory Note, Security Delivery Letter, Agreement for Cash Credit and Hypothecation of goods etc. The 3rd respondent also executed Guarantee Agreement and also created equitable mortgage.

3. Subsequently, the respondents 2 & 3 committed default in repaying the loan amount, therefore, the petitioner – Bank filed an application in O.A.No.188 of 2004 on the file of the Debts Recovery Tribunal – II, Chennai for recovery of Rs.46,31,550/- together with interest. T








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