ANKIT CARPETS Vs. BANK OF INDIA

JUDGEMENT

(1.) Special leave granted.

(2.) After hearing the counsel for the parties, we are of the opinion that on the facts of this case the decision to require Rs. 5,00,000/- (Rupees Five lakhs) being deposited prior to permitting the filing of the written statement was incorrect. On summons being issued, the defendant has 30 days, as of right, to file his reply pursuant to the show cause notice and no condition can be imposed at least till the 30 days are over.

(3.) The order of the High Court as well as that of the Debt Recovery Officer are set aside. The appellants are permitted to file their written statement in the Tribunal within two weeks from today. If the written statement is filed the case will proceed thereafter. If the written statement is not filed within two weeks from today, then the decree passed by the trial court will stand. Parties to appear before the Tribunal on 16th April, 2001.