RELIANCE INDUSTRIES LTD. Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) In this revisional application, the petitioner challenges an order dated 18th December, 2013 passed by the Debts Recovery Appellate Tribunal at Kolkata in Application No. 3 of 2013 arising out of Appeal No. 4 of 2013, The appeal has been preferred by the petitioner before the Appellate Tribunal against the judgment and order dated 22nd November, 2012 passed by the Debts Recovery Tribunal (In short DRT). In connection with the appeal, the petitioner filed an application under section 21 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (In short RDDBFI Act, 1993) praying for waiver of pre-deposit. The Debts Recovery Appellate Tribunal (In short DRAT) directed the petitioner to deposit 40% of the certificate amount. The petitioner is aggrieved by this as according to the petitioner the pre-deposit should have been totally waived in the facts and circumstances of the case. The petitioner is a supplier of petroleum products. The petitioner appointed the opposite party No. 2 as its dealer.

(2.) A tripartite agreement dated 9th May, 2005 was entered into between the parties hereto. It appears from the agreement that the liability of the petitioner to the opposite party No. 1 under the said agreement is limited to Clauses 6 and 10 thereof.

(3.) The opposite party No. 2 obtained credit facilities from the opposite party No. 1. Subsequently, the opposite party No. 1 instituted proceedings for recovery of the amount lent and advanced under section 19 of the RDDBFI Act, 1993. The petitioner herein was made a party defendant to such proceeding.