BANK OF INDIA Vs. HARSHADRAI ODHAVJI MODY

JUDGEMENT

(1.) THIS chamber summons is taken out by the defendant, Harshadrai Odhavji Mody, for a direction that the execution application filed by the plaintiffs, Bank of India, which holds a decree against it, be in effect retained in this Court and not be transferred to the Debt Recovery Tribunal under the provisions of the Recovery of Debts Due to Bank and Financial Institutions Act, 1993 (hereinafter referred to "the RDB Act" ).

(2.) THE facts in brief are that on 16th October, 1996 the Bank of India obtained a decree before the High Court of Justice, Queens Bench Division at England in the sum of Rs. 2,47,82,743. 40 ps. The plaintiff Bank then put the decree into execution before this Court along with the certified copy on 6th May, 1998. The Debt Recovery Tribunal had not been constituted then. On 16th July, 1999 the constitution of the Debt Recovery Tribunal was notified. Thus execution application was being transferred to the Debt Recovery Tribunal when the defendant erroneously made an application for speaking to the minutes of an administrative order by which all matters filed by Bank and Financial Institutions were being transferred to the Debt Recovery Tribunal. This Court directed the defendant to take out a chamber summons for retaining in respect of this matter which was slated for transfer to the Debt Recovery Tribunal. Admittedly the papers have not yet been transferred to the Debt Recovery Tribunal and they are in this Court. Upon liberty granted as aforesaid, the defendant has taken out this chamber summons.

(3.) THE only point for consideration before this Court is whether the decree obtained by the plaintiff, Bank of India, can be executed under section 44-A of the Code of Civil Procedure, 1908 or in view of the Recovery of Debts Due to Bank and Financial Institutions Act, 1993, must be executed in accordance with the provisions of that Act. It is, therefore, necessary to set out certain provisions of the RDB Act which are as follows :-