EVEREST WOOLLEN MILLS PVT LTD Vs. PUNJAB AND SIND BANK

JUDGEMENT

(1.) HEARD Counsel and perused the records.

(2.) Even before this Tribunal, the respondent Bank did not any reply. The learned Counsel for the respondent Bank stated that the respondent Bank does not wish to file any reply, and that this application may be allowed, subject to certain costs, since, according to him the 3rd respondent, who was the partner of the firm, is also a director of the appellant-company, and the conversion of the partnership into a company is intended only to delay the proceedings. He also points out that the right of the 2nd respondent firm to file the written statement was closed by the learned Presiding Officer of the DRT, against which an appeal was filed before this Tribunal, wherein this Tribunal directed that opportunity to the 2nd respondent firm to file written statement should be afforded, with a further direction to the 2nd respondent to pay a cost of Rs. 25,000/- taking into consideration the fact that the matter was pending from 1992 onwards. He, therefore, contends that the intention of the appellant is only to delay the proceedings. That is why the learned Counsel for the respondent Bank stated that this appeal can also be allowed directing the impleadment of the appellant as a party, subject to the right of the respondent Bank to take all the pleas open to it to be taken before the DRT and subject to the payment of costs.

(3.) ACCORDINGLY, the appeal is allowed. The impugned order dated 26.8.2003 is set aside. The application filed by the appellant for being impleaded as a party is allowed. The appellant is ordered to be impleaded as defendant in the O.A. The respondent Bank shall take steps to amend the O.A., and the appellant shall file the additional written statement, if any within three weeks from today. As directed earlier, the O.A. itself shall be disposed of within three months, after affording opportunity to both sides to put forward their cases.