IN THE SUPREME COURT OF INDIA

CIVIL APPELLATE JURISDICTION

CIVIL APPEAL NO. OF 2008

[Arising out of S.L.P.(C) No.7744 of 2006]

Bank of India

Appellant

Versus

Ketan Parekh & Ors.

Respondents

J U D G M E N T

A.K. MATHUR, J.

1.

Leave granted.

2.

This appeal is directed against the order dated

17.1.2006 passed by the Division Bench of the Bombay High

Court whereby the Division Bench has held that since the

property of the respondent No.1 has been seized under the

Special Courts( Trial of Offences Relating to Transactions

in Securities) Act,1992 (hereinafter to be referred to as

the Act of 1992), the Debts Recovery Tribunal had no

jurisdiction to grant a declaration that the properties of

1

a notified person stand charged and the certificate against

such properties cannot be executed by the Recovery Officer

under the Recovery of Debts Due to Banks and Financial

Institutions Act, 1993 (hereinafter to be referred to as

the Act of 1993) and the financial institution would have

to move the Special Court in respect of the property

attached.

3.

Brief facts which are necessary for disposal of

this appeal are that the responde