Rajasthan Finance Corporation vs Bank Of Baroda
2022 Latest Caselaw 4575 Raj/2

       HIGH COURT OF JUDICATURE FOR RAJASTHAN
                   BENCH AT JAIPUR

                S.B. Civil First Appeal No. 207/2022

Rajasthan Finance Corporation & Anr.
                                                                     ----Appellants
                                      Versus
Bank Of Baroda & Ors.
                                                                   ----Respondents

For Appellant(s) : Ms. Manju Jain For Respondent(s) :

HON'BLE MR. JUSTICE SUDESH BANSAL

Order

06/07/2022

Counsel for appellant- Rajasthan Finance Corporation

submits that respondent Nos.2 and 3 borrow loan from Rajasthan

Finance Corporation as well as from the Bank of Baroda on

hypothecation/ mortgage of his factory and machinery etc. In

order to recovery of loan amount, a tripartite agreement dated

17.12.2003 (Exhibit 12) was executed between parties and as per

this agreement, Rajasthan Finance Corporation was given first

charge and the Bank of Baroda was given second charge to realize

the due loan.

Counsel for appellant submits that even the entire loan of

Rajasthan Finance Corporation is not yet recovered, the trial Court

has committed error in passing the impugned decree for recovery

against appellant and in favour of respondent-plaintiff- Bank.

Heard.

Appeal is admitted.

Issue notice to respondents.

Record of the trial Court be summoned.

(2 of 2) [CFA-207/2022]

In the meanwhile and till further orders, the execution of

impugned judgment and decree dated 07.01.2022 shall remain

stayed.

(SUDESH BANSAL),J

NITIN /15

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