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Judgment
S. Ravi Kumar, J
This Appeal is preferred against order dated 06.01.2009 in Transfer Application (T.A.) No. 347 of 1995 on the file of Debts Recovery Tribunal No. I, Ahmedabad (D.R.T.). Appellant herein is the Assignee of State Bank of India which filed Civil Suit No. 3917 of 1990 before City Civil Court at Ahmedabad which was subsequently transferred to D.R.T. and was registered as T.A. No. 347 of 1995. Tribunal below by order dated 06.01.2009 allowed the T.A. in part and grievance of Appellant is in respect of Clause 4 of the operative order where it is ordered that Defendant No. 6 is entitled for the amount together with interest accrued thereon from time to time in Term Deposit Receipt issued by State Bank of India, Ashram Road Branch, Ahmedabad. But in the judgment there is no reference as to how this money in Term Deposit came on record and what is the significance of that amount. According to Advocate for Appellant, the Tribunal below has not properly interpreted the judgment of Hon'ble Supreme Court in the case of C.B. Gautam V/s. Union of India [(1993) 1 SCC 76], wherein it is clearly clarified about the sales concluded and in this case the sale of the property was only subsequent to the judgment of Hon'ble Supreme Court and that fact was not noticed by the Tribunal below. It is also submitted that in view of Section 31(B) of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the RDDB&FI Act) which is subsequently brought into statute can also be applied and for that reason the matter needs to be remitted back to the Tribunal below to examine these aspects by giving opportunity to both parties.
On a perusal of the material on record and the impugned order dated 06.01.2009, I am of the considered view that request of the Appellant is quite reasonable and to protect the interest of both parties, it is desirable to remit back the matter to the Tribunal below to decide it in a time bound manner in view of the points observed above.
Accordingly, order to the extent of rejection of claim of the Appellant regarding property described in para 27(b) of the application and Clause 4 of the operative order is set aside and the matter is remitted back to the Tribunal below for a fresh consideration, leaving open all the contentions and issues, and also to examine applicability of provision of Section 31(B) of the RDDB&FI Act. Tribunal below shall decide the same within three months from the date of receipt of this order in accordance with law, without being influenced by any of the observations or findings of impugned order.
Appeal is ordered accordingly.
All Miscellaneous Applications, if any, are dismissed as infructuous.