RAJASTHAN XLO SANWA MIDLAND Vs. STATE BANK OF BIKANER AND JAIPUR
DEBTS RECOVERY APPELLATE TRIBUNAL
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(1.) THIS is an application filed by the applicants/ appellants seeking waiver of the pre-deposit as per the Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as "the Act"), for the purpose of entertaining the appeal.
(2.) The 1st respondent-State Bank of Bikaner & Jaipur (hereinafter referred to as "the respondent-Bank"), filed Original Application 362/1996 before the Debts Recovery Tribunal, Jaipur (hereinafter referred to as "the DRT"), against the appellants (defendant Nos. 1 to 3); (hereinafter referred to as "the appellants-defendants") and respondent Nos. 2 to 4 in the appeal (defendants Nos. 4 to 6) for the recovery of Rs. 76,00,408.54 with interest. The learned Presiding Officer of the DRT by the impugned final order dated 13th August, 2001 directed that the respondent-Bank is entitled to receive the said amount with interest and costs from appellants-defendants jointly and severally.
Aggrieved, the appellants-defendants have preferred the appeal and also this application under Section 21 of the Act, seeking waiver of the pre-deposit. The respondent-Bank has filed a suitable reply opposing this application.
(3.) I have heard Counsel for both sides and perused the records.;
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