CENTRAL BANK OF INDIA Vs. KIRLAMPUDI SUGAR MILLS

JUDGEMENT

(1.) THE third party petitioners (Kirlampudi Sugar Mills Staff & Workers Union) filed IAs 245 and 246/2001 before Debts Recovery Tribunal (DRT), Hyderabad to implead them as defendant No. 4 in the Original Application (OA) No. 267/2000 and direction that the sale proceeds of the properties mentioned in 'C Schedule properties were not to be appropriated towards the dues of the applicant Bank in that OA.

(2.) The DRT, Hyderabad, dismissed those IAs by its order dated 27.9.2001 but the Tribunal directed that an amount of Rs. 13,20,034/- awarded by the Deputy Commissioner of Labour-II, Eluru, from out of the sale proceeds to be deposited in a fixed deposit to the credit of the OA to enable the third party petitioners to work out their remedies before Recovery Officer after the disposal of the OA and the Writ Petition No. 2782/2001.

(3.) THE Counsel for the appellant Bank submitted that the order passed by the learned Presiding Officer, DRT, Hyderabad, directing to deposit Rs. 13,20,034/- in a fixed deposit is not sustainable and it. is liable to set aside.