LAWS(MAD)-2013-7-298

LAKSHMI TRAVELS Vs. INDIAN BANK

Decided On July 29, 2013
Lakshmi Travels Appellant
V/S
INDIAN BANK Respondents

JUDGEMENT

(1.) This writ petition is filed to quash O.A. No. 221 of 2011 pending on the file of the Debt Recovery Tribunal-I, Chennai. The petitioner before this Court had availed loan facilities from the 1st respondent Bank Since default was committed in repayment of the said loan, the 1st respondent Bank had filed O.S. No. 199 of 2000 on the file of the sub Court, Sankarankoil for recovery of a sum of Rs. 4,13,331/- In the said suit a preliminary decree was passed on 31.10.2008. The bank had also filed O.A. No. 221 of 2011 on the file of the debt Recovery Tribunal I Chennai seeking issuance of the recovery certificate for a sum of Rs. 14,92,003.94 Aggrieved against the same, this writ petition is filed.

(2.) According to the learned counsel for the petitioner, the grievance of the petitioner before this Court is that the said O.A. was filed under Section 31A of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to an 'RDDBFI Act'), but, as per the wordings in the said Section if a decree was passed by any Court before the commencement of RDDBFI Act but has not yet been executed then the decree holder may apply to the Tribunal to pass an order for recovery of the amount under the said Section. Further, according to the learned counsel for the petitioner, as far as the case in hand is concerned, the suit itself was filed subsequent to the commencement of the said Act and the decree was also passed on 31.10.2008 i.e. after the commencement of the said Act, Consequently, according to him, the application filed under Section 31A of RDDBFI Act, cannot be entertained.

(3.) On the request made by this Court, Mr. Benjamin George had assisted this Court on this aspect According to him, as per Section 31A of the RDDBFI Act, if a decree was passed prior to the commencement of the Act, and has not been executed, for execution of the decree, the decree holder may approach the tribunal But, according to him, as far as the case in hand is concerned, the decree was passed subsequent to the commencement of the Act, consequently the petition under Section 31A cannot be filed for the reason that as per the said section, the said provision is applicable only to the decree which was passed prior to the commencement of the Act. However according to him, as per Section 2(g) of the RDDBFI Act, wherein the word 'debt' has been defined which reads as follows: