CENTRAL BANK OF INDIA Vs. PREMIER PAPER PRODUCTS

JUDGEMENT

(1.) BANK filed suit OS No. 454/1995 in the Sub-Court, Coimbatore, in the year 1995 which came to be transferred to DRT, Chennai, upon the establishment of DRTs under the RDDB & FI Act, 1993 and again re-transferred to DRT, Coimbatore, and re-numbered as TA No. 1458/2002.

(2.) This appeal is filed by the appellant/original applicant-Central Bank of India being aggrieved by the judgment and order dated 25.2.2004 passed by the learned Presiding Officer of DRT, Coimbatore in IA-474/2003 in TA-1458/2002. By the impugned Order the learned Presiding Officer allowed the IA-474/2003 taken out by the defendants and disposed of finally the TA No. 1458/2002 in view of the direction given by him in the IA.

(3.) WHILE the OA was still pending, the defendants made an application being IA No. 474/2003 to the DRT praying for a declaration that they were entitled to the benefits of the RBI circular/guidelines and praying that the applicant Bank be compelled to accept the offer made by them of Rs. 317.73 lakhs under the One Time Settlement (OTS) as per the Scheme of RBI.