SHAGUFTA ZAHID Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) RESPONDENT-Central Bank of India (hereinafter referred to as "respondent-Bank") has obtained the final order dated 27th December, 2001 against the appellants herein (as defendant Nos. 2 to 4, hereinafter referred to as "appellants-defendants") and M/s. Hibba Exports, (as 1st defendant) for a sum of Rs. 10,32,972/- with interest and cost.

(2.) The appellants-defendants filed an application under Rule 66 of the Second Schedule to the Income Tax Act, 1961 before the Recovery Officer attached to the Debts Recovery Tribunal-I, New Delhi, (hereinafter referred to as "DRT"), requesting the Recovery Officer to postpone the sale of the property for about two months to enable the certificate debtors to raise the balance of the amount under the Certificate.

(3.) THEY have also urged that when they submitted the proposal on 28th October, 2002 they had also given a cheque for Rs. 1 lac to the respondent-Bank to show their bona fides, and that they are paying Rs. 2 lacs by cash order on 30th October, 2002.