NARESH KOCHHAR Vs. PUNJAB AND SIND BANK
LAWS(DR)-2004-12-7
DEBTS RECOVERY APPELLATE TRIBUNAL
Decided on December 15,2004

Appellant
VERSUS
Respondents

JUDGEMENT

K.S.Kumaran, - (1.) RESPONDENT Punjab and Sind Bank (hereinafter referred to as 'the respondent Bank') filed O.A. 66/99 before the Debts Recovery Tribunal, Delhi (hereinafter referred to as 'the DRT') against appellant (2nd defendant in the O.A.; and hereinafter referred to as 'the appellant defendant'). The appellant defendant filed an application (Miscellaneous Application 646/2004) before the DRT requesting the DRT to direct the respondent Bank to file the recast statement of accounts giving certain particulars as mentioned in the said application. The learned Presiding Officer of the DRT, by the impugned order dated 25.5.2004, dismissed the said application observing that the application has been filed by the defendant stating that the Bank has not filed the complete statement of accounts, that there is no need to issue any notice of this application to the respondent Bank since the case was fixed on that date for passing the final order. So observing, the DRT rejected the said application.
(2.) Aggrieved, the appellant defendant has preferred this appeal, and the respondent Bank filed a suitable reply opposing the same. I have heard the Counsel for both the sides, and perused the records.
(3.) THE learned Counsel for the appellant defendant contends that the learned Presiding Officer of the DRT was not right in observing that the application was filed for directing the respondent Bank to file the complete statement of accounts. He contends that the said application was filed for a direction to the respondent Bank to file a revised statement of accounts since the respondent Bank has claimed, debited and capitalized the penal interest from time-to-time, and has also charged the interest at varying rates from time-to-time. He also contends that since the respondent Bank has failed to provide the material particulars as to the varying rates of interest, penal interest and the capitalization thereof for the varying periods, the above said details should be furnished by the respondent Bank by filing a revised statement of accounts. He, therefore, contends that this was the prayer before the DRT.;


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