Drat Kolkata Court February 2005 Judgments

Oriental Bank of Commerce Vs. Siliguri Plywood Industries and

Court: DRAT Kolkata

Reported in: II(2006)BC54

1. This appeal was preferred on 23rd March, 2004, from an order dated 12th February, 2004, made by the learned Presiding Officer, DRT-II, Kolkata, hereinafter referred to as "the DRT". The short point urged by Counsel for the appellant-Bank was that the branch manager by reason of a bona fide mistake had made a statement before the DRT that the respondents would be required to pay a sum of Rs. 30,81,025.53, in order to obtain the benefits of the one time settlement in accordance with the guidelines laid down by the Reserve Bank of India, and the Bank would receive the same in full and final satisfaction of its entire claim. Payment of the agreed amount was however made by the respondents, it was submitted by him, but well after the agreed time.The case of the respondents was that payment was made in accordance with the terms stipulated in the guidelines of the R.B.I. and that the impugned order was a consent order and no appeal was preferable from a consent decree.2. It was submitted ...