- (1.) RULE. Shri Janak Dwarkadas appears and waives service of rule on behalf of the respondents. In the facts and circumstances, the matter is taken up for final hearing.
(2.) THIS petition is filed against an order passed by the Presiding Officer of the Debt Recovery Tribunal on 12th July, 2002 in applications below Exhibits 14 and 15 in O. A. No. 2617 of 1999 and confirmed by the Debt Recovery Appellate Tribunal in Miscellaneous Appeal No. 356 of 2002 on 13th November, 2002.
(3.) IN a suit filed by the appellant Bank this Court on June 26, 1996 issued certain directions. Paragraph 2 of the said order reads as under : "2. The motion is for appointment of Receiver in respect of all the property. While giving reply to the arguments of the plaintiff, the Counsel for the defendant agreed to give Bank Guarantee within four weeks from today of a Nationalised Bank for a sum of Rs. 1. 10 crores of assurance that Bank Guarantee will be enhanced after every five years considering the pendency of the suit and accumulation of the interest. ";