STATE BANK OF INDIA Vs. DIPAK THAKUR
LAWS(DR)-2003-9-15
DEBTS RECOVERY APPELLATE TRIBUNAL
Decided on September 12,2003

Appellant
VERSUS
Respondents

JUDGEMENT

D.C.Thakur, - (1.)THE only pertinent issue that stands for the determination by this Tribunal is that whereas the defendants have been found expressly not disputing the claim amount nor the entitlement of the applicant Bank for such an amount, in their written statement which is popularly called the cross or counter pleading, after being placed on the equal footing with a plaint or an application, as the case may be, whether a Court or a Tribunal or an adjudicating body shall be in such typical situation competent to pronounce judgment on admission at the "first hearing" of itself.
(2.)Before dealing with the above issue, it is becoming highly necessary to refer in brief the background of such issue, which is being framed this day by this Tribunal.
At the request of the defendant No. 1 for being granted three types of facilities namely (a) Cash Credit (Stock) with the maximum monetary limit of Rs. 5 lakhs; (b) Cash Credit Bills with the limit of Rs. 2 lakhs; and (c) Term Loan Facility, the applicant Bank did become agreeable to sanction those facilities. The above facilities were closely inter-related with the enjoyment of themselves at the initial stage.

(3.)THEREAFTER, on the basis of an application being made by the defendant No. 2, who is actually the owner of the defendant No. 1, the applicant Bank became further pleased to enhance the limit to an another but higher one. Such shall become evident from sub-para (8) of paragraph No. 5 of the application preferred by the applicant Bank. In that sub-paragraph a tabular form has been expressly found adopted by the applicant Bank. So far as the Cash Credit (Stock) facility to the extent of Rs. 5 lakhs is concerned, it was enchanced to Rs. 8 lakhs; whereas the Cash Credit (Bills) for the limit of Rs. 2 lakhs is concerned, the sanction limit was extended to Rs. 9.5 lakhs. The limit fixed for the last facility, being the Term Loan facility, when it has been the subject-matter of discussion, was extended upto Rs. 3.30 lakhs. Such acceptance of the offer for the enhancement was communicated to the defendants by the applicant Bank through the Branch Office (of itself)'s letter No. 21/ AKS dated July 31, 1992.


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.