ORDER

1. We have heard counsel for the parties.

2. It is stated that the petitioner has been proceeded against by several 9 banks and financial institutions for recovering the amounts due from the petitioner. All the banks and financial institutions which have so far instituted proceedings have done so at Mumbai. Only the respondent Punjab National Bank has initiated such a proceeding at Jabalpur before the Debts Recovery Tribunal. It is stated that the lead bank is State Bank of India which has instituted proceedings at Mumbai. Several of the other banks and financial institutions which have instituted proceedings at Mumbai hold a first charge, whereas Punjab National Bank admittedly holds a second charge.

3. Having regard to the aforesaid facts and circumstances which are not in dispute, we transfer OA No. 54 of 2001 titled Punjab National Bank v. Kusum Ingots & Alloys Ltd. pending before the Debts Recovery Tribunal at Jabalpur to the Debts Recovery Tribunal at Mumbai. The Debts Recovery Tribunal, Jabalpur shall forthwith transmit the record of the case to the Debts Recovery Tribunal at Mumbai.

4. This transfer petition is accordingly allowed.