ORAL JUDGMENT: (Dr. D.Y. Chandrachud,J.)

The First Respondent filed an application before the Debts Recovery Tribunal at Pune against the petitioners for the recovery of an amount of Rs.2.12 crores together with future interest. On 3 February 2010, the First Respondent moved an application under Rule 12(5) of the Debts Recovery Tribunal (Procedure) Rules, 1993 on the basis that in their balance-sheet for the year ending 31 March 2005, the Petitioners had admitted an outstanding liability of Rs.1.58 crores to the First Respondent. Consequently, an order was sought that pending hearing and final disposal of the Original Application, the Petitioners be directed to deposit an amount of Rs.1.58 crores, failing which a Recovery Certificate for the admitted amount be issued. The Petitioners filed a reply to the application. In the reply, the Petitioners specifically set up a defence that the notes appended by the Auditors to the balance-sheet clearly showed that there was a dispute on the liability of the Petitioners, both with respect to the claim of interest and principal. Hence, according to the Petitioners, there was no admission in the balance-sheet on the basis of which an