WALTER ROSARIO Vs. CORPORATION BANK

JUDGEMENT

(1.) THE only common question that arises for consideration of these two appeals is as to whether the provisions of S. 18 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 constitutes a bar on the jurisdiction of a Civil Court for making an Award of an Arbitrator a rule of the Court or a decree of the Court in terms of the provisions of S. 14 of the Arbitration Act 1940, subsequent to 30-11-1994, from which date onwards the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 has come into effect.

(2.) THE brief facts giving rise to the above two appeals are :

(3.) DISPUTE having ultimately arisen between the parties in the matter of repayment, an Arbitrator was appointed in terms of the agreement between the parties and one Sri P. Narayana Bhat appointed as a sole Arbitrator in respect of the disputes.