D.D. Sinha, J.

1. Heard the learned counsel for the petitioner and the learned counsel for the respondent. Rule returnable forthwith. Heard finally by consent of the parties.

2. The petitioner is questioning validity and propriety of the order dated 10.4.2012 (impugned order) passed by Debt Recovery Appellate Tribunal (DRAT) whereby the petitioner's appeal against the order dated 22.2.2012 passed by Debt Recovery Tribunal (DRT) in Misc. Application No. 7 of 2012 dismissing the application for condonation of delay came to be upheld.

FACTS STATED BY THE PETITIONER:

3. On 7.9.1987 High Court Suit No. 2636 of 1987 was filed by the respondent for recovery of Rs.69,50,213.59 paise with interest against the petitioner and for enforcement of mortgage. On 9.12.1996 decree was passed by the Bombay High Court. On 31.5.1997 petitioner tendered the amount in terms of decree dated 9.12.1996 which was refused by the respondent. On 8.7.1997 petitioner took out Chamber Summons No. 1066 of 1997 for recording tender of payment by the petitioner in terms of the decree. (Chamber Summons now stands transferred to DRT and is still pending).

4. On 8.9.1998 and 7.12.1998 Court Receiver, High Court, Bombay, issued notices for auctioning the mortgaged property. On 16.7.1999 DRT was constituted, as a result of which, the pending execution proceedings stood automatically transferred to the DRT and the High Court ceased to have any jurisdiction to proceed with the execution. On 6.5.2000 Court Receiver held auction in which respondent purchased the subject property for Rs.2,00,00,000/-. High Court approved the sale. On 3.2.2004 respondent made application before DRT for Recovery Certificate on the basis of the decree passed by the High Court. On 29.11.2004 Recovery Certificate was issued by DRT and the property was ordered to be sold by the Recovery Officer. In 2010 petitioner filed Original Suit No. 682 of 2010 before the Principal Sub District Court, Coimbatore claiming declaration in respect of suit property. The plaint was rejected on 22.12.2011 for want of jurisdiction. The petitioner filed Writ Petition No. 12943 of 2011 in the Madras High Court seeking enforcement of One Time Settlement (O.T.S.). On 29.4.2011 the petitioner filed Suit being Suit (L) No. 1236 of 2011 in this Court which was rejected on 19.10.2011.

5. In the second week of November 2011 respondent commenced levelling and digging work on the suit property, hence on 28.11.2011 petitioner filed application (Exhibit “11”) before the Recovery Officer contending that the sale was bad in law. On 2.12.2011 Recovery Officer rejected the application of the petitioner as not maintainable. On 15.12.2011 petitioner filed an Appeal against the order of rejection dated 2.12.2011. At the time of hearing of the Appeal on 27.12.2012 it was transpired that the petitioner's remedy is to file an application for rectification of the Recovery Certificate. Petitioner therefore withdrew the Appeal.

6. On 26.1.2012 petitioner filed Misc. Application (L) No. 34 of 2012 for avoiding the sale and seeking rectification of Recovery Certificate. On 25.1.2012 petitioner filed Misc. Application No. 7 of 2012 for condonation of delay in filing the Misc. Application (L) No. 34 of 2012. Vide order dated 22.2.2012 petitioner's application for condonation of delay was dismissed by DRT, Mumbai. On 27.2.2012 petitioner filed an Appeal being Misc. Appeal No. 35 of 2012 before DRAT. On 10.4.2012 DRAT dismissed the Appeal filed by the petitioner as barred by limitation, hence the petitioner filed the present petition by impugning the order dated 10.4.2012 passed by the DRAT.

FACTS STATED BY THE RESPONDENT:

7. It is not in dispute that on 7.9.1987 the respondent filed the High Court Suit No. 2636 of 1987 for recovery of the amount as mentioned above. Passing of the decree by the High Court on 9.12.1996 is also not disputed. However, as per the respondent the said decree provided stipulation that if the decretal amount