LUCY AYLINE JACINTO Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) The challenge in these proceedings under Article 226 of the Constitution is to an order of the Debts Recovery Appellate Tribunal dated 1 April 2010 and to an order passed by the Tribunal in Original Application 3158 of 2000. By an order dated 29 April 2010, the Division Bench directed that since arguable questions are raised, instead of admitting the petition, the proceedings will be placed for final disposal at the stage of admission. Accordingly, the petition has been heard for final disposal at the stage of admission. The First Respondent, which is the contesting party, being the Applicant before the Debts Recovery Tribunal, has appeared through Counsel.

(2.) On 31 March 1995, the Tahsildar, Andheri, passed an order recording the name of the Petitioner in the 'other rights' column of the record of rights in respect of the property in question, admeasuring 9467 sq.mtrs. at Kole Kalyan.

(3.) In 1999 2000, inspection had revealed that one M.B. Tawadia, who was then a DGM of the First Respondent at the M.S. Marg Branch of the Bank, had discounted certain bills for a proprietary concern by the name of M/s.R.D. Swamy with discrepant documents. The inspection noted that though the buyers had refused payment of earlier bills, Tawadia had opened Letters of Credit for non existing transactions resulting in an overdue of Rs. 25 crores in the account of the firm.