PRESTIGE LIGHTS LTD Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Heard Sri Keshri Nath Tripathi, learned Senior Advocate assisted by Sri V.D. Chauhan for the Petitioner and Sri Bhanu Prakash Dubey, Sri Deepak Mishra holding brief of Sri A.K. Mishra, Advocates, for Respondent No. 1.

(2.) The Respondent Nos. 2 and 3 being Debt Recovery Appellate Tribunal and Debt Recovery Tribunal are formal parties, and having no lis in the matter, need not be served. Learned Counsel for Respondent No. 1 states that since the issue raised before this Court in this writ petition is purely legal and therefore he does not propose to file counter and the matter be heard and decided finally at this stage under the Rules of the Court. As agreed and requested by learned Counsel for the parties, I proceed accordingly.

(3.) By means of the impugned order dated 13th July, 2011, Debt Recovery Appellate Tribunal (hereinafter referred to as "Appellate Tribunal") has rejected the appeal preferred by Petitioners against order dated 1.12.2006 of Debt Recovery Tribunal (hereinafter referred to as "DRT") decreeing the suit of State Bank of India (hereinafter referred to as "Bank") ex parte. The Appellate Tribunal has rejected the appeal holding that it is not maintainable.