Drat Mumbai Court August 2002 Judgments

i.C.i.C.i. Bank Limited Vs. Daewoo Motors (India) Ltd. and

Court: DRAT Mumbai

Reported in: IV(2004)BC220

1. This Misc. Appeal is filed by the appellants ICICI Bank Limited being aggrieved by the order dated 23.7.2002 passed by the learned Presiding Officer of Debts Recovery Tribunal III, Mumbai on Exhibit 17 in the Original Application No. 162 of 2002. By the impugned order, the learned Presiding officer rejected the application made by the applicant Bank wherein two fold prayers were made. The first prayer was for giving direction to the receiver who has been already appointed by the DRT to sell property mentioned in Exhibits A, B and C to the original application by public auction, by private treaty or otherwise and the second prayer in the alternative, was that the order dated 9.5.2002 passed by the DRT-III, Mumbai, directing payment of royalty of Rs. 10 lacs after every quarter be modified and royalty amount be enhanced to Rs. 15 crores per month. The learned Presiding Officer, however, by the impugned order, rejected both the prayers. The original application came to be filed by the...