RUKHMANI & SONS Vs. HDFC BANK LTD

JUDGEMENT

(1.) By way of the present writ petition, the petitioner challenges the order dtd. 4/7/2024 passed by the learned Debt Recovery Tribunal, Dehradun in O.A. No. 267 of 2023 HDFC Bank Ltd. vs. M/s Rukhmani and Sons and Ors, whereby the Debt Recovery Tribunal has allowed the Application filed by the respondent-Bank under Sec. 9 of the Recovery of Debts Due to Bank and Financial Institution Act, 1993 and has directed to initiate recovery proceedings and in pursuance thereof sell hypothecated assets and mortgaged properties to recover the amount due to the Bank.

(2.) Learned counsel for the respondent-Bank has taken an objection that there is an alternative remedy of filing an Appeal.

(3.) As per Sec. 20 of the Recovery of Debts and Bankruptcy Act, 1993, the petitioner has an alterative remedy of filing an Appeal and, as per Sec. 21 thereof, he has to make the pre-deposit.