RAM NIWAS DALMIA Vs. DRAT

JUDGEMENT

(1.) INSTANT petition is directed against order dt. 17/02/ 2010 (Ann.3) rejecting application seeking exemption from deposit of 75% of amount under recovery certificate issued vide order dt. 24/07/2006.

(2.) CIVIL suit for recovery of dues was filed on 11/04/1985 and pendente suit proceedings, Recovery of Debt Due to Banks & Financial Institutions Act, 1993 ("the Act") came into force on 27/08/1993 and in terms of Section 31 of the Act pending proceedings were transferred to Debt Recovery Tribunal ("DRT") by getting it registered as Org. Appl. Under Section 19 of the Act and the DRT after adjudication of the dispute passed judgment on 24/07/2006 - against which present petitioners preferred appeal -163/2007 before Debts Recovery Appellate Tribunal, Delhi ("DRAT").

(3.) COUNSEL submits that once the suit was filed prior to the Act, 1993 came into force, the law prevalent on the date of filing of the suit will apply even in course of the appeal being filed and that apart, since these are intra proceedings, appeal can be preferred Under Section 20 of the Act without complying with prerequisite deposit Under Section 21. In support, Counsel placed reliance upon decisions of Apex Court in Hossein Kasam Dada (India) Ltd. v. State of Madh. Pra. : AIR 1953 SC 221; State of Bombay v. Supreme General Films Exchange Ltd. : AIR 1960 SC 980; Mukund Deo v. Mahadu AIR 1965 SC 703; Ramesh Singh v. Cinta Devi : 1996(3) SCC 142.