Export Import Bank of India V/S Vintage Foods & Industries ltd & ors

M.A:316/2008

Ld. Counsel Shri Srinivasan appearing on behalf of M/s NVS Associates for the appellant bank  drew the attention of this Tribunal to the order of the Ld. Presiding officer, DRT, Bangalore dt 3.11.2008 passed in IA no.1746/2008 and stated that the order is liable to be set aside as the order is passed based on assumptions and presumptions of the Ld. Presiding Officer and that grave injustice has been done to the bank which is entitled to get about more than Rs.21.00 crores by the dismissal of this IA. 

 Ld. Counsel further stated that whatever is found in paragraph 3 of the order is not based on any material on record  and that the order is perverse and that the same is liable to be set aside.  Ld. Counsel emphasized the need for an opportunity to be given to the bank to put forth its case in  OA No.326/2002 and added that the Ld. Presiding officer has erred in shutting out the bank from establishing its case in the said OA and that the order dt 5.8.2008 dismissing OA No.326/2002 is equally bad.  

Ld. Counsel prayed that the order passed in IA No.1746/2008 be set aside and that the bank be provided with the opportunity to put forth its case in OA No.326/2002 and also prayed that the order of the Ld. Presiding officer imposing a cost of Rs.5000/- may also be set aside.

Ld. Counsel Shri Dhanraj appears on behalf of respondents 1 to 3.  R4 is already called absent.  There is no representation for R5. R5 is  called absent.

Heard the Ld. Counsel for the appellant and the Ld. Counsel for R1, R2 and R3.  R3 and R5 have chosen not to be present.

In view of the fact that the appellant bank has to be afforded a proper opportunity to put forth its case in OA No.326/2002 and establish the liability of the defendants it would be appropriate if the following order is passed.

“The order of the Ld. Presiding officer, DRT, Bangalore dt3.11.2008 passed in IA No.1746/2008 in OA No.326/2002 is hereby set aside and OA No.326/2002 is directed to be restored to file. The imposition of cost of Rs.5000/- is also hereby set aside. The Ld. Presiding officer is directed to take up OA No.326/2002  and proceed with the OA and dispose of the same in accordance with law within a period of three months from today.”

This MA is disposed of accordingly.

The above Order was passed by the Hon''ble Chair Person of DRAT ,Chennai on27th Sep 2012