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Judgment
Anil Kumar Srivastava, Chairperson
This appeal is filed by the Appellant, assignee to Catholic Syrian Bank Limited, against the impugned order dated 30th March, 2019 passed in M.A. 482 of 2018.
I have heard Learned Counsel for the Appellant. None is present for the Respondents.
At the very outset, Learned Counsel submits that Learned DRT has failed to exercise its jurisdiction by not releasing the amount of Rs.80.00 lac which is deposited with the Registrar under interest bearing FDR in favour of the Appellant. It is further submitted that in spite of the order dated 7th January, 2017, the order, dated 30th March, 2019, was passed dismissing the M.A., being M.A. 482 of 2018. So far the order dated 7th January, 2017, passed in O.A. 310 of 2013, is concerned, Learned DRT has restrained the Respondents from transferring, alienating and/or creating any third party interest in respect of the properties mentioned in Schedule A, A1 and B; which are charged to the Appellant Bank. Further the Appellants were directed to furnish security, as prayed for in the O.A., within thirty days.
Appellants have prayed for release of Rs.80.00 lac, deposited by the Paradeep Port Trust with the Registrar of the DRT, on the ground that Respondents 1, 3, 5 and 6 have already admitted in their written statement the liability to pay the amount.
An amount of Rs.80.00 lac has already been deposited with the Registrar under interest bearing FDR; hence no monetary loss can be caused. Learned DRT has already observed that the said amount of Rs.80.00 lac would be released subject to the decision of the O.A.
I find no material irregularity or illegality in the order, dated 7th January, 2017, passed in the O.A.; hence the appeal needs to be dismissed. Since O.A. is of the year 2013, it would be expedient and in the interest of justice, to decide the O.A. expeditiously by the Learned DRT below.
ORDER
The present appeal, being Appeal No. 107 of 2019, is hereby dismissed. It is, however, expected that Learned DRT would make all endeavour to dispose of the O.A. expeditiously.
File be consigned to Record room.
Copy of the Judgment/Final Order be uploaded in the Tribunal’s Website.