MADRAS HIGH COURT
D. MURUGESAN, *K. K. SASIDHARAN, JJ.
Indian Bank v. Poonachi Estate and Others
| Table of Content |
|---|
| 1. facts leading to the initial decree. (Para 2 , 4 , 5) |
| 2. final decision on the ability to set aside ex parte decree. (Para 3 , 18 , 32) |
| 3. jurisdiction of the tribunal under rddbi act. (Para 6 , 11 , 12) |
| 4. interpretation of 'proceeding' under the act. (Para 19 , 20 , 21) |
1. This Civil Revision Petition is directed against the order dated 17 May, 2005 in U.R.A.No.7 of 2005 on the file of Debts Recovery Appellate Tribunal, Chennai setting aside the ex parte decree dated 5 January, 2000 in T.A.No.918 of 1997 and directing the Debts Recovery Tribunal to dispose of the Original Application afresh on merits.
The facts:
2. M/s. Indian Bank, Pollachi Branch - the revision petitioner herein sanctioned financial assistance to respondents 1 and 2 under term loan scheme for raising coffee crops and other plantation crops in their estate at Pollachi. The Bank disbursed a sum of Rs.3,08,000/- on 3 November 1980 after securing equitable mortgage of the property, which is the subject matter of the revision petition.
3. The respondents 1 and 2 (hereinafter referred to as "borrowers") failed to honour their commitments. This made the Bank to file a suit before the learned Subordinate Ju
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