Drat Mumbai Court November 2004 Judgments

Punjab National Bank Vs. Tata Infotech Ltd.

Court: DRAT Mumbai

Reported in: II(2005)BC16

1. This Misc. Appeal is filed by the appellant/original applicant Punjab National Bank being aggrieved by the order dated 21.10.2003 passed by the learned Presiding Officer of the Debts Recovery Tribunal-I, Mumbai on Exhibit No. 7 in Original Application No.65/2003. By the impugned order, the learned Presiding Officer held that the amount which was sought to be recovered by the applicant Bank from the defendants, did not amount to "Debt" within the meaning of Section 2(g) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and, therefore, the Tribunal did not have jurisdiction to entertain and try the original application filed by the Bank. Holding this, he ordered the original application to be returned to the applicant Bank for being presented before appropriate forum. Being aggrieved, the present appeal is filed by the bank.2. I have heard Mr. D'lima for the appellant Bank and Mr. Purohit for the respondent. I have also gone through the proceedings including ...