S.Banerjea, J. - (1.) The appeal being APO No. 57 of 2001 is against an Order dated 13th March, 2001 passed by the learned single Judge rejecting an application being T. No. 801 of 2001 made by the Appellant in Suit No. 7 of 1995 (ABS Marine Products Private Limited v. Indian Bank & Ors.) for transfer of the said suit to the Debt Recovery Tribunal constituted under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, which is hereinafter referred to as the said Act.
(2.) Since the issues involved in the Appeal being APO No. 57 of 2001 are almost identical to the issues involved in the Appeal being APO No. 58 of 2001 which is an appeal from an order dated 24th January, 2001 passed by the learned single Judge rejecting the oral prayer of the Appellant for transfer of the same suit to the Debt Recovery Tribunal, the two appeals were heard together.
(3.) The facts giving rise to the above appeals are as follows: The Respondent No. 1 filed a suit being suit No. 7 of 1995 (ABS Marine Products Pvt. Ltd v. Indian Bank & Ors.) in this Court claiming inter alia diverse amounts totaling Rs. 25,38,58,000/- from the Appellant inter alia on account of losses and damages allegedly suffered by the Respondent No. 1 by reason of the alleged breach of promise committed by the Appellant in not advancing a sum of Rs. 90 lakhs to the Respondent No. 1 in terms of its letter of sanction dated 19th December, 1991.;