VIRINDER MAYOR Vs. BANK OF INDIA

JUDGEMENT

(1.) THE prayer of the learned counsel is that as the execution proceedings have been transferred to the Debt Recovery Tribunal, Jaipur, established under The Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called "the Act" ). The Regular First Appeal No. 306 of 1990 arising out of the suit in which the execution proceedings have been filed, should also be transferred to the Tribunal at Jaipur. In support of his assertion, the learned counsel relied upon Section 31 of the Act, which is reproduced below :

(2.) MR . Bajaj has finally urged that in case the execution proceedings are finalised and the decree is executed, R. F. A. No. 306 of 1990 pending in this Court would be rendered infructuous. To my mind, the only remedy open to the petitioner is to approach the Tribunal in Jaipur seeking stay of the execution proceedings so that in the meanwhile, the R. F. A. in question can be disposed off. This petition is, accordingly, disposed off in the above terms. It is further directed that No. 306 of 1990 be listed for hearing within three weeks. .