MADAN STORES P LTD Vs. CENTRAL BANK OF INDIA
LAWS(DR)-2003-4-7
DEBTS RECOVERY APPELLATE TRIBUNAL
Decided on April 25,2003

Appellant
VERSUS
Respondents

JUDGEMENT

K.S.Kumaran, - (1.)CENTRAL Bank of India (hereinafter referred to as "the respondent-Bank") has filed O.A. 62/2002 for the recovery of money from appellant-Madan Stores (hereinafter referred to as "the appellant-defendant") and others. The said O.A. is pending before the DRT-III Delhi, (hereinafter referred to as "the DRT").
(2.)Appellant-defendant filed LA. 249/2002 before the DRT with a prayer to adjourn the proceedings awaiting the orders/award of the Arbitral Tribunal in the matter of arbitration between appellant-defendant and Indian Petrochemicals Ltd. (hereinafter referred to as the "IPCL"). This request of the appellant-defendant was declined by the learned Presiding Officer of the DRT observing that if some arbitration proceeding is pending between the appellant-defendant and IPCL relating to some contract, that has nothing to do with this O.A., and, therefore, the adjournment cannot be granted.
Aggrieved by the same, the appellant-defendant has preferred this appeal. The respondent-Bank, who is contesting this appeal, has filed a suitable reply opposing this appeal.

(3.)I have heard the Counsels for both the sides and perused the records.


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