THEATRE MATHI Vs. INDIAN BANK

JUDGEMENT

(1.) THIS Review Application is filed to review the order of this Court dated 3. 2. 2004 and made in C. R. P. No. 2214 of 2002.

(2.) THE revision petition has been filed to strike out O. A. No. 236 of 2002 on the file of the Debt Recovery Tribunal, Coimbatore filed by the first respondent bank under Section 31a (1) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as "the Act") to issue a Recovery Certificate for Rs. 78,84,755. 11 arrived at as per the preliminary decree dated 31. 12. 1996 passed by the learned Second Additional Subordinate Judge, Madurai in O. S. No. 123 of 1990 with future interest from 1. 2. 2002 and also for issuance of certificate to Recovery Officer for the realisation of the amount specified in the certificate by sale of the movable and immovable properties described in the Schedules therein.

(3.) THE review applicants filed the revision petition in C. R. P. No. 2214 of 2002 that the application in O. A. No. 236 of 2002 filed by the first respondent bank is barred by time, since the application is not exempted from the purview of the limitation, whether in the form of a certificate or the final decree and inasmuch as the said application was filed on 28. 1. 2002, despite the fact the preliminary decree was passed on 31. 12. 1996 granting time till 30. 6. 1997 and as such, the said application could have been filed within 3 years and on or before 30. 6. 2000.