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NAJMI WAZIRI, SUDHIR KUMAR JAIN
Ceat Limited – Appellant
Versus
Indian Overseas Bank – Respondent
JUDGMENT
Najmi Waziri, J. (Oral)
The hearing has been conducted through hybrid mode (physical and virtual hearing).
1. The appeal impugns the judgment of the Debt Recovery Appellate Tribunal, Delhi (DRAT) dated 02.11.2015 in OA No. 1226/1995, whereby it upheld the judgment dated 17.12.2012 passed by the Debt Recovery Tribunal (DRT) and dismissed the appeal preferred by the appellant.
2. By way of order dated 31.08.1990, the Board for Industrial Financial Reconstruction (BIFR) directed the merging of M/s. Murphy India Limited (`Murphy') with the petitioner. The respondent no.1/Indian Overseas Bank claimed Rs.26,05,161.40/- against the petitioner apropos discounted bills and alleged outstanding dues of the predecessor Murphy.
3. The learned counsel for the petitioner contends that the impugned orders of DRAT and DRT have erred in as much as they have turned the onus of proof on the petitioner. It is settled law that the person who makes a claim has to prove and establish it. To establish the claim of Rs.26,05,161.40/-, as claimed in the opening sheet of the plaint, the respondent no.1 would need to lead evidence. The learned counsel for the petitioner submits that, interestingly, th
The court emphasized the need for sufficient evidence to establish claimed amounts and held that liability cannot be fastened on a mere assumption.
The main legal point established in the judgment is the requirement for the lower courts to consider and address the issues raised by the petitioner and to evaluate the evidence led by the parties in....
The court's decision emphasized the importance of approaching the concerned tribunal for urgent hearing and disposal of the case, while maintaining status-quo in the interim.
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