SHIVANCHAL INDUSTRIES PVT. LTD. Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) COUNSEL for the parties heard. The O.A. is pending before the learned Trial Court. The learned Presiding Officer DRT is yet to determine the amount. The parties are yet to lead evidence. Recovery Certificate, if any, is yet to be issued. However, vide impugned order, the appellant has been directed to deposit 25% of the disputed amount in the sum of Rs. 89,50,608.41 within a period of 30 days from the date of receipt of that order. The said order was passed on 9.1.2008.

(2.) THE Counsel for the respondent Bank argues that such order can be passed by the learned Presiding Officer, DRT as per Section 19(20) of the RDDBFI Act.

(3.) IN the result, I hereby set aside the order passed by the learned Trial Court. The appellants need not deposit 25% of the abovesaid amount. The Trial Court is directed to hear the parties and decide the case on merits after giving them opportunities to lead evidence. Since this case is old one, therefore, efforts should be made to expedite the same.