AMIT SINGH Vs. ICICI BANK LIMITED AND OTHERS

JUDGEMENT

(1.) Both the revisional applications are taken up together for hearing, since the same order has been challenged in both. C.O. No. 3142 of 2018 is filed by the borrowers and C.O. No. 2628 of 2018 by a developer who entered into an agreement for development with the borrowers.

(2.) The opposite party no.1-bank had filed an application under Section 19 of the Recovery of Debts Due to the Banks and Financial Institutions Act, 1993 (hereinafter referred to as "the 1993 Act"), giving rise to the original application bearing O.A. No. 53 of 2016.

(3.) The Debts Recovery Tribunal - 3 at Kolkata, by its final order dated January 29, 2018, allowed the original application by passing several directions, including reviving a settlement between the opposite party no.1-bank and the borrowers (despite the borrowers having failed to fulfil their terms of the settlement as per the bank) and other consequential directions. The Tribunal also directed that the injunction order passed in relation to "the immovable property" would continue till the payment was made as per that order.