NCDEX E MARKETS LIMITED Vs. AUTHORISED OFFICER, CANARA BANK

JUDGEMENT

(1.) The opposite party no. 1/Bank raised a preliminary objection against maintainability of this application under Article 227 of the Constitution of India before this Court. The preliminary objection raised by the Bank is that the petitioners are required to file instant application before the High Court within whose jurisdiction the Debts Recovery Tribunal is situated. In view thereof, the parties were invited to advance their argument on the issue of jurisdiction only.

(2.) Before this Court proceeds to deal with the question of jurisdiction, only the facts that are relevant for the purpose of deciding the issue of jurisdiction is set out hereinafter.

(3.) The opposite party no. 1/Bank filed an application under Sec. 19 of the Recovery of the Debts and Bankruptcy Act, 1993 (for short "the 1993 Act") for recovery of sum of Rs.22,96,128.00 jointly and severally from the opposite party nos. 2,3 and 4 and the petitioner with future interest at 10% per annum with half yearly rests from October 1, 2019 till the date of realization along with costs. The said application which was registered as Original Application no. 120 of 2020 was filed before the learned Debts Recovery Tribunal-II at Hyderabad (for short "DRT").