( 1 ) THE Court : By consent of the parties, this application is treated as an 'adjourned Motion' in the day's list.

( 2 ) THE question involved in this application is that in view of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 if the suit pending in this Court was transferred to the Debt Recovery Tribunal the same should be brought back to this Court in view of the fact that subsequently the defendant company went into liquidation during the pendency of the suit.

( 3 ) MR. Debdatta Sen Learned Advocate for the Bank has referred to section 446 (1) (2) and (3) of the Companies Act and has submitted that in view of the clear provisions in the section the proceeding pending before the Debt Recovery Tribunal should be transferred to this Court.

( 4 ) THE Official liquidator has appeared and submitted that in view of the specific provisions in section 446 of the Act the proceeding before the Debt Recovery Tribunal should be transferred to this Court, otherwise complications will arise at the time of execution.

( 5 ) A further question arises what is the effect of section 446 of the Companies Act on such a proceeding. The said section is set