RAJENDRA MANOHAR KOWLI Vs. BANK OF INDIA

JUDGEMENT

(1.) Mounting challenge to the order dtd. 26/12/2019 passed by the Debts Recovery Appellate Tribunal, Mumbai (hereafter "DRAT", for short) in Misc. Appeal No.166 of 2005, the petitioners approach this Court by way of a writ petition under Article 226 and 227 of the Constitution of India praying for the following reliefs, inter alia, as under :

(2.) The facts of the case in brief are as under :

(3.) The petitioners failed to repay the outstanding amount. The Bank filed a suit on 17/12/1997 for recovery in this Court against the petitioners. The suit was later on transferred to the Debts Recovery Tribunal (in short, "the DRT") upon its establishment. The petitioners disputed their liability to pay the amount of which recovery was claimed by the Bank. So far as the liability of the petitioners to pay the outstanding amount is concerned, the DRT held the Bank is entitled for recovery of the outstanding amount. The appeal filed before the DRAT by the petitioners against DRT's order was dismissed. The order of the DRAT holding the petitioners liable was challenged by the petitioners in a connected Writ Petition No.1629 of 2020 filed before this Court which is heard along with the present petition and is disposed of by a separate order.