- (1.)Leave granted.
(2.)In these appeals, the question before us is whether having regard to the Recovery of Debts due to Banks and Financial Institutions Act, 1993 [hereinafter referred to as 'RDB Act'], a suit containing a "counter-claim" or claiming a "set-off" filed by a debtor can be heard and tried before the Debt Recovery Tribunal (hereinafter referred to as 'DRT') under the RDB Act or must be tried by a Civil Court alone.
(3.)The appellant Bank filed an application for recovery under Section 19 of the RDB Act before the DRT for a recovery certificate against the respondent for Rs. 8,62,41,973.36/-. Though the respondent entered appearance before the DRT, it filed Civil Suit No. 77 of 1998 before the Calcutta High Court against the appellant claiming a decree for sale of pledged shares and payment of sale proceeds to the respondent. After the appellant sold pledged shares for a total sum of Rs. 5,77,68,000/-, the respondent filed Civil Suit No. 129 of 1999 praying inter alia for following reliefs:
A declaration that sale of shares of BFL Software Ltd. was void;

A decree for return of pledged shares in respect of overdraft facility account and in default to pay Rs. 48.95 crores; and

A declaration that no sum was payable by the respondent to the appellant in respect of Term Loan dated 27.07.1994 and overdraft Account dated 19.09.1995 and that the appellant is not entitled to a decree for a sum of Rs. 8,62,41,973.36 from the respondent.