Case: Central Bank of India Vs S. Bose and Co. and Ors.. Kolkatta Debt Recovery Tribunals

Party Name:Central Bank of India Vs S. Bose and Co. and Ors.
Judges:D.C. Thakur, Presiding Officer
Issue:Code of Civil Procedure (CPC), 1908 - Rules 33, 45; Code of Civil Procedure (CPC), 1908 - Section 109; Recovery of Debts Due To Banks And Financial Institutions Act, 1993 - Section 19
Citation:I (2007) BC 116
Judgement Date:April 05, 2006
Court:Kolkatta Debt Recovery Tribunals

Order:

D.C. Thakur, Presiding Officer

  1. Mr. Debasish Chowdhury, the learned Advocate appears for the applicant Bank.

  2. Mr. Pradip Kumar, the learned Advocate, led by Mr. P.K. Chatterjee, the learned Advocate appears for the defendants.

  3. During the day's hearing, this Tribunal has also taken note of the appellate order, passed in connection with the appeal No. nil of 1992 to arise out of Suit No. 419 of 1991, in the High Court at Calcutta (Civil Appellate Jurisdiction) on June 24, 1992 in the matter of Central Bank of India v. S. Bose & Company and Ors., by the Division Bench, consisting of the Hon'ble Justice Ajit K. Sengupta and the Hon'ble Justice Shyamal Kumar Sen (as Their Lordship were then).

  4. The above order has been in fact an appellate order pronounced in connection with the appeal preferred by the applicant Bank against the order of the Hon'ble Trial Judge on an application for the appointment of the Receiver and for a direction upon the Receiver to sell the hypothecated assets.

  5. At the time of disposing of the Bank's above appeal, the Hon'ble Division Bench had been pleased to pronounce the following:

    Having heard the learned Advocates appearing for the parties, we direct the respondents to go on paying at the rate of Rs. 10,000/- per month. First of such instalments shall be payable on or before 15.7.1992 and thereafter by 15th day of each succeeding month. The respondents shall go on paying such instalments till the disposal of the suit at the aforesaid rate or till a sum of Rs. 7,50,000/- is paid off by the respondents. In default of payment of any two instalments, the Receiver will take possession and obtain appropriate direction from the Court below for sell of the hypothecated assets upon notice to the respondents;

    for the due compliance by the respondents who are the defendants before this Tribunal in connection with the Bank's present claim case which has been previously its above mentioned suit.

  6. The above appellate order did also noticeably contain in it the default clause to arise, as a result of the violation of it by the defendants before this Tribunal, who have been the respondents in the said appeal of the Bank. The said order has been firstly an order on consent; and then an order about to dispose of the suit perhaps on the basis of judicial admission unequivocally made before the Hon'ble Division Bench; and lastly, an order to cover explicitly the situation under Rule 33 of Order 41 of the First Schedule...

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