ISHWAR INDUSTRIES LTD THROUGH ITS DIRECTOR MR BHARAT BHASKAR Vs. BANK OF INDIA

JUDGEMENT

(1.) THIS appeal has been filed against order dated 16.5.2002 passed by learned Presiding Officer of the Debts Recovery Tribunal-II, Delhi in O.A. No. 318/95.

(2.) By the impugned order, the application of the CDs (who are appellants here) for direction to its debtors to pay the amount due to them so that they can liquidate and pay the debt of the Bank (Certificate-holder) as per the final order has been rejected with the observation that the application was misconceived because any dispute regarding recovery of amount due to the CDs from third parties could not be adjudicated in the concerned proceedings, more so, when the case has finally been disposed in Lok Adalat on 20.4.2002.

(3.) IN view of the above factual position, the appellants moved to Tribunal below by Misc. Application No. 104/2002 and sought the following reliefs: