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CASE NO.:

Appeal (civil) 82 of 2008

PETITIONER:

Oriental Bank of Commerce

RESPONDENT:

Sunder Lal Jain & Anr.

DATE OF JUDGMENT: 08/01/2008

BENCH:

G.P. Mathur & Aftab Alam

JUDGMENT:

J U D G M E N T

(Arising out of Special Leave Petition (Civil) No.882 of 2006)

G. P. MATHUR, J.

1. Leave granted.

2. This appeal, by special leave, has been preferred against the

judgment and order dated 17.8.2005 of Delhi High Court, by which a

direction was issued to the appellant Oriental Bank of Commerce to

declare the respondents\022 account as Non-Performing Asset (NPA)

from 31st March, 2000 and to apply the Reserve Bank of India

Guidelines to their case and communicate the outstandings which

shall be recoverable by quarterly instalments over a period of two

years.

3. The respondents Sunder Lal Jain & another were sanctioned

credit facility for Rs.20 lakhs on 12.12.1996. The respondent

defaulted in repayment of the amount and their account was declared

as NPA on 31.3.2001. On 21.2.2002, the appellant Oriental Bank of

Commerce filed a petition against the respondents being O.A. No.21

of 2002 befo