VAKRANGEE SOFTWARES LIMITED Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) This appeal is directed against the order passed on 17th March, 2008 in Notice of Motion No. 3588 of 2007 in Suit No. 1251 of 2000. In this notice of motion the plaintiff-appellant is seeking a mandatory direction calling upon the defendant No. 1 to withdraw the name of the plaintiff from the list of "willful defaulters" and to issue injunction restraining the defendant from proceeding with a letter dated 27th November, 2006 and from taking any steps threatened therein. For the sake of brevity and to avoid confusion, it is clarified that in this judgment the appellants are referred to as the plaintiff while the respondent-Central Bank of India is referred to as the defendant.

(2.) It is also clarified that the Suit No. 1250 of 2000 has been filed by the appellant-plaintiff as against the respondent-defendant in this Court, while the respondent-defendant has filed Original Application No. 770 of 2001 before the Debt Recovery Tribunal, Mumbai.

(3.) In the Suit No. 1251 of 2000 the plaintiff has filed Notice of Motion No. 3588 of 2007 as stated in the earlier part of this judgment, and since in the said notice of motion the learned Single Judge has passed an order of return of plaint of Suit No. 1251 of 2000 to be presented to the Debt Recovery Tribunal, Bombay with a further direction that the parties shall appear before the Debt Recovery Tribunal on 21st April, 2008 for further direction and it will be open to the plaintiff to pursue application for interlocutory relief before the Debt Recovery Tribunal. Thus, in stead of granting the interim relief as prayed by the plaintiff, the plaintiffs suit has been returned by the learned Single Judge relying upon the two judgments of the Apex Court, namely, United Bank of India Vs. Abhijit Tea Co. (P) Ltd., A.I.R. 2000 S.C. 2957 and (Industrial Investment Bank of India (I) Ltd. & anr. Vs. Marshal's Power & Telecom (I) Ltd.), reported in 2007(1) S.C.C. 106.