MANJIT KUMAR Vs. ORIENTAL BANK OF COMMERCE

JUDGEMENT

(1.) THIS is an application under Section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as 'the Act") for waiver of the deposit to be made in terms of this section.

(2.) Final order dated 7.1.2002 was passed by the learned Presiding Officer of Debts Recovery Tribunal, Delhi-I (hereinafter referred to as 'the DRT') ordering the appellants/defendants to pay a sum of Rs. 9,19,01,443/- to the respondent/plaintiff-Bank with costs, pendente lite and future 'interest at 18.36% per annum with quarterly rests.

(3.) AGGRIEVED by the above said order, the appellants/defendants filed CWP 5742/2002 before the Hon'ble High Court of Delhi, and the Hon'ble High Court of Delhi found by the order dated 10.9.2002 that the appellants/defendants had not set up any worthwhile ground to warrant waiver of pre-deposit. The appellants/defendants, therefore, prayed for withdrawal of the CWP for seeking reconsideration of their plea for waiver of pre-deposit by this Tribunal on some new grounds. The Hon'ble High Court of Delhi was also pleased to dismiss the said CWP as withdrawn with liberty as prayed for by the appellants/defendants.