HIM ISPAT LTD Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) This writ petition has been filed with a prayer to issue a writ of certiorari to quash order dated March 12. 2003 (Annexure P4), vide which application of the petitioners, to supply statement of accounts from March 1985, till the date of filing of Original application (OA) by respondent No. 1 and other documents was dismissed. Further prayer is to quash the order dated September 13, 2005 (Annexure P-6) vide which the appeal filed by the petitioners against the orders, referred of above, was also dismissed.

(2.) Initially, this writ petition was filed by M/s Him Ispat Limited (for short the Company), a company constituted under the Companies Act, 1956, along with petitioner No. 2 to 5. Subsequent thereto vide order dated May 8, 2006 the above said Company, on account of liquidation order having become final was ordered to be transposed as respondent No. 8 through Official Liquidator.

(3.) It is the case of the petitioners that in the year 1985, the company had raised loan from respondent No. 1 through its branch situated at Damtal. The company committed default in repayment of the loan, which compelled respondent No. 5 to file original application for recovery of an amount of Rs. 44,32,88,489.77 paise, along with further interest, costs etc, The said application was filed in the year 2001. It is not in dispute that after service of notice, the petitioners put up appearance before the Debt Recovery Tribunal at Chandigarh (for short the Tribunal) on March 11, 2002. They sought many dates for filing written-statement which were granted. On request made by the petitioners, last opportunity to file written statement upto August 19, 2002 was given. It was also directed by the Tribunal that in case written statement was not filed their defence shall be closed. Even then reply was not filed and on September 9, 2002 application (Annexure P-2) was moved under Section 22 (d) of the Recovery of Debts due to Banks and financial Institutions Act, 1993 (for short 1993 Act) read with Rules 9 (ii) and 4 (i) of Debts Recovery Tribunal Procedure Rules, 1993 (for short 1993 Rules) wherein a prayer was made that respondent No. 1 the Bank be directed to supply statement of accounts from March 1985, till the filing of the application for the recovery of the amount in dispute. It was further prayed that not only statement from the loan account, but also statement of accounts maintained by the Banks, where operational accounts were opened by company, be also supplied. In reply to that application, it was stated by respondent No. 1 that the original application for recovery of the amount in dispute had been filed as per rules. Necessary documents had already been placed on record. Additional copy of the 'original application' had been supplied to the petitioner under orders of the Court. It was further said that the last document confirming the previous balance was signed by the petitioners on October 14, 1987 and thereafter statements of accounts, from the loan account had already been filed along with the original application. It was further said that the petitioner had been receiving the statements of accounts from time to time from various branches of the Bank. If they had any grouse, they could produce those document in defence. By stating that the application had been moved with a view to delay the proceedings, a prayer was made that the application be dismissed. The Tribunal dismissed application of the petitioners vide order dated March 12, 2003 (Annexure P-4). Petitioner went in appeal which was also dismissed vide order dated September 13, 2005 (Annexure P-6). Hence this writ petition.