THEATRE MATHI Vs. INDIAN BANK

JUDGEMENT

(1.) By consent of both parties, Civil Revision Petition itself has been taken up.

(2.) This Civil Revision Petition is filed to strike out O.A.No.236 of 2002 on the file of the Debt Recovery Tribunal, Coimbatore.

(3.) The first respondent Indian Bank filed the suit O.S.No.123 of 1990 in the Second Additional Sub Court, Madurai to recover Rs.59,41,091.26 with subsequent interest at 19.5% per annum against the revision petitioners 1 and 2 and the second respondent and also others since deceased. In that suit a preliminary decree for sale was passed on 10.7.1996 for Rs.63,45,653.05 together with future interest at 6% per annum on the principal amount of Rs.26,89,001/- from the date of decree. The first respondent filed appeal in A.S.No.404 of 1998 in respect of the interest, which was disallowed, and the appeal is pending in this Court. The first respondent bank filed the application in O.A.No.236 of 2002 in the Debt Recovery Tribunal at Coimbatore for grant of a certificate under Section 31A(1) of the Recovery of Debts due to Banks & Financial Institutions Act, 1993 (hereinafter referred to as "the Act") and it is pending.