2002 (2) TMI 1247

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....e Respondent. ORDER 1. 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 f....

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..... from 21-4-1995 to 6-11-1996.     + (b) Interest on 5,65,405 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 fo....

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....has no application. He placed reliance on Part A(i) of the guidelines which reads as under : "(A) Guidelines for recovery of NPAs up to Rs. 5.00 crore: (i) Coverage : (a)The revised 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....