S.C.GUPTE
TJSB Sahakari Bank Ltd. – Appellant
Versus
Global Trust Bank Limited, now known as Oriental Bank of Commerce – Respondent
S.C. Gupte, J.—Heard learned Counsel for the parties. The present order disposes of the notice of motion taken out in the Summary Suit.
2. The subject matter of the suit is a liability which is claimed as due from the Defendant, who is also a bank, in respect of certain bills of exchange issued under letters of credit and negotiated with the Plaintiff-bank.
The summons for judgment is opposed by the Defendant-bank. The Defendant-bank has taken out the present notice of motion praying for transfer of the proceedings of the suit to the Debts Recovery Tribunal (“DRT”).
3. This application is on the ground that after coming into force of the Enforcement of Security Interest And Recovery of Debts Laws (Amendment) Act, 2012 (“Amending Act”) on 15 January 2013, this suit, which is a suit for recovery of a debt of the Plaintiff-bank, which is a multi-State cooperative bank covered under the definition of “banks” under the Recovery of Debts due to Banks and Financial Institution Act, 1993 (“Recovery of Debts Act”), cannot be entertained by this Court. It is submitted that under Section 18 of the Recovery of Debts Act, this Court has no jurisdiction to entertain or decide any applicati
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