- (1.) The instant petition filed under Article 226 of the Constitution is directed against judgement dated 12.12.2011 (P.9) rendered by the Debts Recovery Appellate Tribunal, New Delhi (for brevity 'the Tribunal'). The Tribunal has decided the claim of the petitioners who have prayed that no amount be recovered from them as determined by the Debt Recovery Tribunal (DRT) in its order dated 17.12.2008 passed in the Original Application. According to the adjudication, The Tribunal has accepted the sum of Rs. 96,66,113/- as the liability of the petitioners with cost. After hearing, the Tribunal has reduced the pre-deposit amount to 25% of the amount of debt as determined by the DRT. The operative part of the order is incorporated in para 11 of the order, which reads thus: " In view of the above discussion, I hold that it is not a fit case for complete waiver of the amount required to be deposited under Section 21 of the Act, but considering that appellant no.2 is a retired Colonel of the Indian Army, the amount of pre-deposit is reduced to 25% of the amount of debt as determined by the learned DRT. The amount determined by the DRT is Rs. 96,66,113/-, therefore, 25% of the said amount comes to Rs. 24,16,528.25. The appellants are directed to deposit the aforesaid amount, out of which Rs. 12,08,525/- will be deposited on or before 11.1.2012 and the balance amount of Rs. 12,08,000/- will be deposited on or before 10.2.2012 with the Registrar of this Appellate Tribunal."
(2.) We have heard learned counsel for the parties at a considerable length and are of the view that it is not possible for us to record any finding at this fluid stage, as is sought to be urged by the counsel for the petitioners, that petitioners are under no obligation to pay any debt. The question whether there is any documentary evidence has been left open by the Tribunal and the secondary evidence of the documents has already been allowed. Mr. Pathela has drawn our attention to a plethora of documents, to which reference has been made in the original plaint (P.1). The particulars of the documents are detailed in para 9 of the plaint which include Cash Credit (Factory type) to the tune of Rs. 5 lakhs; Agreement for cash credit of security of pledge of goods produced and merchandise signed and executed on 2.7.1988; D.P. Note in various sums' Agreement for guarantee and a number of others. Therefore, the issue concerning the Bank dues is yet to attain finality. In the peculiar facts and circumstances of the case, we are not inclined to waive the whole amount determined by the DRT and are of the view that the impugned order dated 12.12.2011 passed by the Tribunal (P.9) asking for deposit of 25% of the total determined amount deserves to be upheld. Accordingly, 25 percent of the amount as determined by the DRT is required to be deposited by the petitioners which comes to Rs. 24,16,528.25. The petition does not merit admission and the same is liable to be dismissed.
(3.) In view of the above, the writ petition fails and the same is dismissed. However, in the facts and circumstances of the case, we permit the petitioners to deposit 25% of the determined amount as calculated in the impugned order namely a sum of Rs. 24,16,525.25 within a period of three weeks from today. The appeal of the petitioner shall be decided by the Tribunal expeditiously and preferably within a period of six months from the date of receipt of copy of this order.;