EUREKA FORBES LTD. Vs. ALLAHABAD BANK AND ORS.
DEBTS RECOVERY APPELLATE TRIBUNAL
EUREKA FORBES LTD.
Allahabad Bank And Ors.
Click here to view full judgement.
Arunabha Barua, J. (Chairperson) -
(1.) THIS appeal is directed against judgment and order dated 15th June, 1995 and a consequent recovery certificate being certificate No. 48 of 1995 dated 30th June, 1995 passed by the Debts Recovery Tribunal (D.R.T. for short) Kolkata. The claim of the Bank, namely the Allahabad Bank (respondent No. 1 here), to the tune of Rs. 22,11,618,62/ - was allowed ex parte and certificate accordingly issued by the D.R.T. against the appellant, Eureka Forbes Ltd., together with Dipak Chowdhury (respondent No. 3 here) and his company, Indo Marketing (respondent No. 4 here) to be liable jointly and severally for the claim of the Bank.
(2.) IN March, 1999, a miscellaneous application was filed before the D.R.T., Kolkata, for recalling the ex parte order dated 15th June, 1995 which was rejected. That was indeed the beginning of a long legal battle of sorts right up to the Apex Court spanning a period of about ten years eventuating with a judgment of the Hon'ble High Court (Girish Ch. Gupta, J.) dated 11th June, 2004, wherein the Hon'ble Court was pleased to stay the operation of the impugned order of the D.R.T. dated 15th June, 1995 and directed the appeal to be heard on merits.
(3.) IT is pertinent to mention in this connection that by his judgment and order dated 11th April, 2004, the previous Chairperson of this Hon'ble Tribunal had dismissed the application for condonation of delay in preferring the instant appeal against the ex parte certificate issued by the D.R.T. on the ground that the application for condonation of delay for setting aside the ex parte decree having attained finality up to the Hon'ble Supreme Court of India, the question of condoning the delay for entertaining the appeal was no longer open to be urged by the appellant. Such finding of the Hon'ble Tribunal has been set aside in civil revision by the Hon'ble Court by order dated 11th June, 2004 on the ground that the Tribunal had misdirected itself in the exercise of its jurisdiction.;
Copyright © Regent Computronics Pvt.Ltd.