PUNJAB NATIONAL BANK Vs. SERAIKELLA GLASS WORKS LTD

JUDGEMENT

(1.) THIS pertains to the petition of applicant Bank dated 17.10.2003 whereby a preliminary objection was raised to dismiss the counter claim and to proceed with the original application of Bank.

(2.) Heard the parties. I have also perused the relevant case papers.

(3.) THIS Tribunal has already observed in Central Bank of India v. Jumbo Engineering Pvt. Ltd., I (2003) BC 7=2003(1) Bank CLR 240 (DRT Ranchi) that, "Sub-section 8 of Section 19 does not provide any period of limitation for filing counter claim but simply provides a condition that the cause of action must accrue before the defendant has delivered his defence or before the time limited for delivery of defence has expired. The interpretation of Section 19(8) therefore provides that any cause of action which may arise after the filing of written statement by the defendants or after the expire of the date for filing the defence will not come within the scope of Section 19(8)".