SARAF TRADING CORPORATION Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) THE appeal is directed as against the order passed by the Presiding Officer, DRT, Ernakulam. THE appellants filed IA praying the Tribunal to issue summons to the Manager of RBI, Exchange Control Department, Mumbai, to adduce evidence and also to produce the documents. THE Tribunal dismissed that application.

(2.) Counsel for the appellants submitted that the basis of the claim in the application is on the alleged instruction given by the RBI to the 1st respondent and if that be so the best person to speak about such claim is an official of the RBI and the Bank should have taken steps to examine the officials of the RBI, the Bank did not do so and so the appellants took steps for the same and the petition ought to have been allowed by the Presiding Officer, DRT. He further submitted that the official of RBI is the best person who could speak with authority regarding the claim and no prejudice will be caused to the Bank and it will only help in a fair disposal of the case.

(3.) THE Apex Court in VII (2002) SLT 400=(2002) 1 Supreme Court Cases Page 367, Central Bank of India v. Ravindra and Ors., has observed that-