MANILAL GOVINDJI KHONA Vs. INDIAN BANK

JUDGEMENT

(1.) Heard the learned counsel for the petitioner and the learned counsel for the respondent. Rule returnable forthwith. Heard finally by consent of the parties.

(2.) The petitioner is questioning validity and propriety of the order dated 10.4.2012 (impugned order) passed by Debt Recovery Appellate Tribunal (DRAT) whereby the petitioner's appeal against the order dated 22.2.2012 passed by Debt Recovery Tribunal (DRT) in Misc. Application No. 7 of 2012 dismissing the application for condonation of delay came to be upheld.

(3.) On 7.9.1987 High Court Suit No. 2636 of 1987 was filed by the respondent for recovery of Rs.69,50,213.59 paise with interest against the petitioner and for enforcement of mortgage. On 9.12.1996 decree was passed by the Bombay High Court. On 31.5.1997 petitioner tendered the amount in terms of decree dated 9.12.1996 which was refused by the respondent. On 8.7.1997 petitioner took out Chamber Summons No. 1066 of 1997 for recording tender of payment by the petitioner in terms of the decree. (Chamber Summons now stands transferred to DRT and is still pending).