CORPORATION BANK Vs. SUNIL KUMAR

JUDGEMENT

(1.) COUNSEL for the parties are present. This order shall decide two above mentioned appeals, one filed by the Bank and the other filed by the borrower.

(2.) THE learned Trial Court has passed two orders, one in respect of loan in question and one in respect of a car loan. It is an admitted fact that in respect of the car loan a suit is pending before the Civil Court and that car loan is not subject matter of this case. Even then, the learned DRT has arrogated his powers and passed the orders in respect of car loan as well. To that extent, the order passed by the learned DRT is hereby reversed and set aside. It is made clear that the orders passed by the Civil Court in respect of car loan shall be binding on the parties subject to other remedies available to them. Mr. Sunil Kumar need not deposit any amount towards car loan in this case.

(3.) IT is made clear that it would be for the Civil Court to adjudicate the matter whether the said title deed should be retained by the Bank during the pendency of the suit before it. It is made clear that if the appellant fails to deposit the said amount within the stipulated period, the Bank shall be at liberty to proceed further under the SRFAESI Act.