D. Nageswar Rao Vs. S.B.I. & Ors.
Constitution of India, 1950 - Article 142 , Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Debt Recovery
Auction Sale - Property was auctioned for an amount of Rs.48,80,000/- and Respondent No.3 auction purchase had deposited the entire amount of Rs.48,80,000/- before the Debt Recovery Tribunal, though belatedly, and the same is kept in an interest bearing account - Outstanding dues as on today is Rs. 1,02,06,815/- - Appellant sought indulgence that he may be permitted to pay the outstanding amount in installments which is opposed by Bank having regard to the past conduct of the appellant - In the interest of justice one more opportunity given to the appellant-Further directions issued.
Topic(s)-Debt Recovery - Auction Sale - Opportunity granted for payment