JUDGMENT :

M.M. Sundresh, J.

Prayer: Original Side Appeal filed under Order XXXVI of Rule 1 of Original Side Rules read with Clause 15 of the Letters Patent against the order and decreetal order dated 03.11.2020 passed in O.A.No.1031 of 2020 in C.S.No.715 of 2019.

The appellants being the defendants in the suit, filed an application to reject the plaint in O.A.No.1031 of 2020 in C.S.No.715 of 2019 on the premise that the suit filed by the respondents/plaintiffs in C.S.No.715 of 2019 lacks jurisdiction in lieu of the provisions under Section 34 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the “SARFAESI Act”) read with Section 18 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the “RDDBFI Act).” The said application was dismissed by the learned single Judge. Assailing the order passed on 03.11.2020, the present Original Side Appeal has been filed by the appellants.

2. BRIEF FACTS :

2.1. M/s Oceanic Tropical Fruits Private Limited and M/s Oceanic Edibles International Limited had availed credit facilities from the appellants-Bank and committed defaul