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ALLAHABAD HIGH COURT
Sudhir Agarwal, J.
State Bank of Patiala Branch, Rudrapur – Appellant
Versus
M/s Namrata Enterprises Pvt Ltd. – Respondent
| Table of Content |
|---|
| 1. overview of the case and its background. (Para 1 , 3 , 4 , 6) |
| 2. summary of the proceedings before various tribunals. (Para 2 , 5 , 7) |
| 3. legal debate regarding the applicability of limitation act. (Para 10 , 12 , 22) |
| 4. key statutory references concerning drt operations. (Para 18 , 19 , 20 , 21) |
| 5. final judgment and its implications. (Para 28 , 29) |
1. Petitioner State Bank of Patiala Branch, Rudrapur, Head Office at The Mall, Patiala, through its Branch Manager has come to this Court under Art.226 of Constitution of India assailing the order dated 3.1.2008 of Debt Recovery Tribunal (hereinafter referred to as 'DRT') and the appellate order dated 16.10.2008 passed by Debt Recovery Appellate Tribunal (hereinafter referred to as 'DRAT') rejecting the appeal.
2. The facts giving rise to the present dispute in brief are as under.
3. The respondent no.3 M/s Namrata Enterprises Pvt Ltd. sought for credit facility which was allowed by petitioner Bank to the extent of Rs. 95 Lac in 2001; increased to 121.7 Lac on 29.10.2002. Respondents no. 4,5,6 and 7 stood guarantor to the said facility extended to respondent no.3. Respondents no. 6 and 7 in addition to personal guarantee al
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