A.K.SIKRI, ARUN KUMAR
INDIAN BANK – Appellant
Versus
PUNJAB NATIONAL BANK – Respondent
A.K. Sikri, J. - This writ petition raises a neat question of law relatable to the amendment of the plaint filed by respondent- Punjab National Bank in O.A. No. 508 of 1996 before the Debts Recovery Tribunal (DRT). New Delhi. The amendment application stands allowed by DRT, New Delhi. The appeal of the petitioner- Indian Bank against the said order filed before Debts Recovery Appellate Tribunal (DRAT), Mumbai has also failed. The amendment appears to be innocuous. However, it has wide ramifications as far as Indian Bank is concerned. Therefore, feeling aggrieved against the orders of the subordinate authorities, this writ petition under Article 226 of Constitution of India is filed by Indian Bank. In order to appreciate the controversy in this petition, it is not necessary to state the facts in detail and a cursory look of materials facts would suffice the purpose. These material facts as noted by the DRAT may be reproduced as under.
2. The Punjab National Bank agreed to advance loan facility to the extent of 6 million US dollars to M/s. Oswal Agro Mills Limited. This M/s. Oswal Agro Mills Limited in consideration of the said facility agreed to provide to M/s. Indo Europe
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