KARNATAKA BANK LIMITED HOLENARASIPUR Vs. S N NANJAPPA

JUDGEMENT

(1.) HEARD.

(2.) THE petitioner is the decree-holder Bank and respondents are judgment-debtors 1 and 2 in Ex. No. 16 of 1995 wherein the Execution Petition is dismissed by the Executing Court by its impugned order dated 17-4-1997 made on I. A. VII under Section 151 of the Civil Procedure code filed by respondents praying for its dismissal on the ground that the total figure of the amount recoverable under the decree in execution as on the date of the said application was exceeding Rs. 10 lakhs and, therefore, by virtue of sub-section (4) of Section 1 of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 ('the Act' for short), the Court below ceased to have jurisdiction to recover the same from them.

(3.) IN passing the impugned order reliance had been placed by the executing Court on a decision of this Court in K. Kunhambu and Another v Vijaya Bank, K. G. Road, Bangalore. It is held therein that the Execution Petition filed in the Trial Court by any decree-holder Bank, Financial institution for recovery of the decretal amount exceeding Rs. 10 lakhs does not lie before it and that the same shall have to be made before the concerned Debt Recovery Tribunal under the Act which alone has jurisdiction to execute such, a decree.