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KARNATAKA HIGH COURT
R. NATARAJ, J
SMT. ARUNA RAVI W/O LATE RAVI RAJKUMAR, AGED ABOUT 43 YEARS, KUMMARI NIMISHA AGED ABOUT 17 YEARS – Appellant
Versus
THE CHIEF EXECUTIVE OFFICER THE TUMKUR GRAIN MERCHANTS CO-OP BANK LTD. – Respondent
| Table of Content |
|---|
| 1. recovery of loans raised against partnership assets. (Para 2 , 3) |
| 2. liability of legal heirs is restricted to inherited property. (Para 10 , 11) |
| 3. writ petition disposed off with defined terms of liability. (Para 12) |
ORAL ORDER
03.04.2012 passed by the respondent No.2 in Case No.J.R.D/U.B.F/1525/2006-07 as well as an order dated
2. The facts in brief are that, the respondent No.1, which is a co-operative Society registered under the Karnataka Co-operative Societies Act, 1959 had advanced a pledge loan of Rs.22,50,000/- to M/s. Pushpak Motors on the security of 72 brand new Yamaha motorcycles. The said loan became recoverable and proceedings were initiated by the respondent No.1 for recovery of Rs.18,47,850/- and Rs.13,12,763/- being the interest and penal interest thereon.
4. Being aggrieved by the same, the petitioners are before this Court.
6. Learned counsel for the petitioners contended that the petitioners were not the members of the respondent No.1 and they were not the ones who had availed the loan from the respondent No.1. They were not even the guarantors to the respondent No.1 and were not the partners of the firm. Therefore, he contends that the impugned
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