SUBRAMONIUM PRASAD, J.

1. The present Writ Petition is directed against the order dated 22.03.2017 by the Debt Recovery Appellate Tribunal at Chennai in RA 78 of 2014.

2. The petitioner is a distributor of Television sets. One M/s. Mustaang Electronics Pvt. Ltd.,/second respondent herein is a manufacturer of Black and White Colour Television sets. The petitioner/appellant and M/s. Mustaang Electronics Pvt. Ltd. (respondent No.2 herein), entered into an agreement on 06.02.1985 for marketing Television sets manufactured by the second respondent. For this purpose, a sum of Rs.10 lakhs was given as advance by the appellant and this amount was to be utilized by Respondent No.2 for providing bank guarantee. Bank guarantee was not provided and therefore, it was agreed between the petitioner/appellant and the second respondent and that this sum was to be adjusted towards supply of television sets manufactured by the second respondent to the petitioner/appellant. The second respondent wanted some credit facilities from the banks. For this purpose, there were joint discussions betwe