SEEMA TEXTILES Vs. PUNJAB AND SIND BANK
DEBTS RECOVERY APPELLATE TRIBUNAL
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(1.) THIS appeal has been preferred against the order dated 6th September, 2001 passed by the Debts Recovery Tribunal-II, Delhi, (hereinafter referred to as 'the DRT'), dismissing the application (I.A. 1/2000) filed by the appellants (hereinafter referred to as 'the appellants-defendants') to dismiss the O.A. as not maintainable in view of Rule 10 of Debts Recovery Tribunal (Procedure) Rules, 1993 (hereinafter referred to as 'the Rules').
(2.) The respondent-Punjab & Sind Bank (hereinafter referred to as 'the respondent-Bank) filed O.A. 269/1998 against the appellants-defendants for the recovery of Rs. 17,10,744.42 with interest and costs. The respondent-Bank prayed for issuance of the recovery certificate against the appellants-defendants jointly and severally, and also for the sale of the mortgaged property, hypothecated stocks etc.
The appellants-defendants filed an I.A. 1/2000 before the DRT, as stated above, for dismissal of the O.A. The appellants-defendants urged in that application that in the O.A. Rs. 17,10,744.42 has been claimed in respect of the following accounts :-
(i) Rs. 5 lacs in Packing Credit Account;
(ii) Rs. 1,10,016/- in Post Shipment Advance;
(iii) Rs. 4,50,562.72 in Current Over Draft Account; and
(iv) Rs. 17,820/- in Bank Guarantee Facility.
(3.) THE appellants-defendants further urged that the O.A. is barred by the provisions of Rule 10 of the Rules. THE appellants-defendants have also urged that the O.A. has been filed on the basis of four causes of action, whereas, in each account, the amount claimed is less than Rs. 10 lacs, and therefore, the DRT has no jurisdiction to entertain and try the O.A., if the four accounts are not clubbed together.;
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