LALITKUMAR JIVABHAI THAKKAR Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) QUESTION that is posed for our consideration is whether a third party can invoke the provisions of sub-sec. (25) of Sec. 19 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 so as to prevent the abuse of the process of the Tribunal and to secure ends of justice.

(2.) DIVISION Bench of Bombay High Court in Anil Nandkishor Tibrewala and Anr. v. Jammu and Kashmir Bank Ltd. , 2007 (3) Bom. CR 941, interpreting sec. 19 (25) of the Recovery of Debts Due to Banks and Financial Institutions act, 1993 (for short 'r. D. B. Act') held as follows :

(3.) APPELLANTS-PETITIONERS approached the Debt Recovery Tribunal, Ahmedabad placing almost identical plea with prayer to entertain their application. Question whether such application is maintainable or not, was sole issue raised before the Tribunal and it held that Misc. Civil Application is not maintainable at law. With regard to the judgment of the Bombay High Court, Tribunal has opined as follows :