KARUN RAJ NARANG Vs. ICICI BANK LIMITED

JUDGEMENT

(1.) CM No. 20745/2010 Allowed subject to just exceptions. WP(C) No.8042/2010 and Crl.M.A. No. 20744/2010

(2.) THE petitioner has sought setting aside the order dated 28th October, 2010 passed by Debt Recovery Appellate Tribunal in Appeal No.392/2010 arising out of an order dated 28th September, 2010 in OA No. 248/1999 rejecting the prayers made by the petitioner to cross- examine all the witnesses of respondent/applicant Institution, who have filed the detailed affidavits and to modify the order of the Appellate Tribunal allowing cross-examination of Smt. Karobi Acharjee, Chief Manager, ICICI Bank Limited for 15 minutes only permit the petitioner to fully cross-examine the said witness and to allow cross examination of other witnesses who have given detailed affidavits in support of the contentions and pleas of respondent nos.1 to 3.

(3.) IN the original petition pending before the Debt Recovery Tribunal, the present petitioner had filed the written statement taking various pleas, inter alia, that he has been wrongly impleaded; the petition is barred by limitation; the original petition has not been filed by the proper person as the signatories of the petitions are not authorized by their respective institutions; the original application is bad for mis joinder of causes of action; in the alleged Foreign Currency Loan Agreement dated 29th August, 1988, clause 3.4 subtitled as guarantee was deleted by a line made across the same and it is also mentioned that the said clause is not applicable which is also countersigned by the parties; the personal guarantee dated 29th August, 1988 in Clause 24 specifically stipulates that the personal guarantee would be binding on the guarantor until the borrowers create effective security in favor of the lenders as per Article 3 of the Loan Agreement and other pleas.