J.M. MALIK, J. (CHAIRPERSON)

1. On 29th August, 2006 State Bank of India, original applicant, moved an application for substitution of Kotak Mahindra Bank Ltd. in its place. Mr. S.K. Gupta appeared on behalf of the respondents including Vee Aar Polymers Pvt. Ltd., which has been arrayed as respondent No. 1 in this appeal. Mr. S.K. Gupta sought time for filing objection against the said application. The case was adjourned to 19th October, 2006. On 19th October, 2006 Counsel for the defendants moved an application for adjournment. The case was adjourned on 20th December, 2006. From 20th December, 2006 the matter was adjourned to 13th March, 2007 for disposal of substitution application and for the orders. On 13th March, 2007 ten days time was granted to the defendants for filing objections against substitution application. The case was adjourned on 24th April, 2007.

2. On 24th April, 2007 the learned DRT allowed the substitution application. Its relevant extract is reproduced as follows:

Substitution application dated 29th August, 2006 of the applicant Bank is allowed as the learned Counsel for the defendants has no objection.

3. On 19th July, 2007 and again on 18th September,