Andhra Pradesh Court March 1998 Judgments

Venkateswara Textiles Traders and Printers Vs. Canara Bank and anr.

Court: Andhra Pradesh

Reported in: 1998AIHC282; 1998(2)ALT680; [1998]94CompCas455(AP)

ORDER1. The matter arises under the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (for short, 'the Act').2. This Civil Revision Petition raises an interesting question - Whether the suit and the Execution Petition is liable to be transferred under the provisions of the Act of the Debt Recovery Tribunal, pending decision on the claim petitions filed by third party under Order 21 Rules 58 and 99 C.P.C. with regard to the suit mortgaged properties.3. The facts of the case, in brief, are as under: The 1st respondent-Bank filed suit O.S.202 of 1985 against the 2nd respondent herein for the recovery of certain sum and obtained a final decree on 7.3.1990. The 1st respondent filed E.P.7 of 1990 for execution of the said decree by way of sale of the properties and for recovery of Rs.20,34,089.10ps. The properties belong to the petitioner. The decree was obtained without his knowledge. The petitioner therefore filed E.A.15/91 and E.A.17/92 under Order 21 Rules 99 and 58 CPC...