(Per : HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN)

Letters Patent Appeal No. 1126 of 2008 arises out of interim order passed by the learned Single Judge on 16.3.2008. When the appeal came up for hearing, with the consent of parties we called for the main writ petition and heard the appeal as well as the writ petition finally.

2. Appeal has been preferred by Standard Chartered Bank, a banking company within the meaning of Definition 2(e) of the Recovery of Debts Due to the Banks and Financial Institutions Act, 1993, first respondent in the application. Respondents Nos. 1 to 3 herein preferred Special Civil Application challenging an order passed by the Presiding Officer of DRT, Ahmedabad, on 9.5.2008, allowing an application preferred by Standard Chartered Bank, for substituting itself in place of ICICI Bank in the recovery certificate No. 1941 issued in O.A No. 62/03.

3. ICICI Bank Limited had filed O.A No. 62/03 in the Debt Recovery Tribunal, Ahmedabad for recovery of an amount of Rs. 4,38,67,473/- from respondents herein. During the pendency of the application, parties entered into certain terms and conditions to settle the dispute. It was agreed that ICICI Bank wou