9911796707
TMI Blog2002 (2) TMI 1247X X X X Extracts X X X X X X X X Extracts X X X X ..... The petitioner is a proprietary concern engaged in manufacture and supply of non-ferrous castings. The petitioner obtained amount by way of loan from the respondent-bank. As it was irregular in repayments, the bank filed a suit being O.S. No. 325 of 1995. The suit was decreed ex parte on 6-11-1996 and a preliminary decree was passed. The bank filed an application for final decree. At that stage, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 65,405 at the rate of 6 per cent p.m. from 6-11-1996 to 6-11-2000 2,78,631.58 (iii) Costs of suit 17,073.00 8,61,109.58 We propose (i) Compromise amount in terms of RBI Circular No. BP.BC/11/21-01-040/99-00 Rs. 5,00,000 (ii)Payable as follows : (a) 25 per cent down payment on receipt of in principle agreement letter Rs. 1,00,000 (b) I Instalment, i.e., 3 m. from (a) Rs. 1,00,000 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... guidelines will cover all NPAs in all sectors irrespective of the nature of business, which have become doubtful or loss as on 31-3-1997 with outstanding balance of Rs. 5.00 crore and below on the cut off date. (b)The guidelines will also cover NPAs classified as sub-standard as on 31-3-1997, which have subsequently become doubtful or loss category. (c)These guidelines will also cover cases pen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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