Raveendran, J. - (1.) These appeals by special leave are filed against the judgment dated 10-5-2002 of the Calcutta High Court, dismissing A.P.O. Nos.57-58 of 2001 filed by the appellant-Bank against orders dated 24-1-2001 and 13-3-2001 passed by a learned Single Judge of that court, rejecting an oral application and a written application respectively, filed by the appellant- Bank for transfer of Civil Suit No.7/1995 (filed by first respondent herein against the appellant and others and pending on the file of the Calcutta High Court) to the Debt Recovery Tribunal, Calcutta, for being tried with O.A. No.170/1995 (filed by the appellant against the first respondent and its guarantors).
(2.) The first respondent (also referred to as the borrower or company) approached the appellant-Bank (for short the Bank) for certain credit facilities. By Sanction Advices dated 12-7-1991 and 6-12-1991, the Bank sanctioned ad hoc packing credit facilities to a limit of Rs. 20 lakhs and Rs. 5 lakhs respectively. According to the Bank, the company utilized the said credit facilities, but committed default in repaying the amounts advanced. Therefore, the Bank filed O.A. No.170/1995 on 21-8-1995 before the Debt Recovery Tribunal (for short the Tribunal) under Section 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short Debt Recovery Act) seeking a certificate to recover Rs.30,67,820/04 with interest from the company and its four guarantors (Directors), jointly and severally. The said application is pending and trial therein is yet to commence.
(3.) On 19-12-1991, the Bank sanctioned a Middle Term Loan of Rs.90 lakhs and certain other credit facilities to the company. The sanctioned loans were not released. The company filed C.S. No.7/1995 against the Bank in the Calcutta High Court in January, 1995, for recovery of Rs.25,38,58,000/- as damages (for non-disbursal of the loans) with interest. By the end of 2000, recording of evidence in the suit was completed and the suit was ripe for arguments.;