KOTAK MAHINDRA BANK LIMITED Vs. OFFICIAL LIQUIDATOR

JUDGEMENT

(1.) Rule. Rule is made returnable forthwith. The writ petition is heard finally.

(2.) The petitioner has challenged an order dated 23rd October, 2012, passed by the Recovery Officer suo moto recalling an order dated 20th August, 2005, also passed by a Recovery Officer.

(3.) The case in a nutshell is this. A recovery certificate dated 26th February, 2004 was issued inter-alia in favour of the ICICI Bank Limited under The Recovery of Debts Due Banks and Financial Institutions Act, 1993 (hereinafter referred to as "DRT Act"). ICICI assigned the debt to the petitioner. On the petitioner's application, the Recovery Officer by an order dated dated 20th August, 2005, added the name of the petitioner in the recovery certificate in the place of ICICI.