Drat Allahabad Court March 2005 Judgments

Scientific Instrument Co. Ltd. Vs. Bank of India

Court: DRAT Allahabad

1. This appeal has been preferred by the above named defendants/appellants against the order dated 31"1 August, 2004 passed by the learned Presiding Officer, D.R.T., Allahabad, whereby and where under the prayer made by the appellants for keeping the sale of Chennai and Mumbai properties till disposal of M.A. No. 149/2003 has been rejected. The appeal is on a short point; as to whether the D.R.T., Allahabad had any jurisdiction to order for sale of the Chennai and Mumbai properties mortgaged with the respondent-bank, when no recovery certificate have been issued till that date regarding the compromise decree passed earlier and when such compromise decree was challenged by filing an application by the respondent-bank for issuance of recovery certificate regarding the original claim amount of more than Rs. 8.00 crores, when the terms and conditions of the compromise had already been failed.2. To consider the disputed point as raised in the appeal, background of the case is necessary to ...