In a recent judgment of Indian Bank V/s ABS Marine Products Pvt. Ltd. Supreme Court Decision ...

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May 5, 2006, 4:16:28 AM5/5/06
to BankDRT
In a recent judgment the Hon'ble Supreme Court has held that Sub-
sections (6) to (11) of the RDB Act, which were introduced by the
Amending Act of 2000, are merely enabling provisions, to enable to the
DRTs to hear a counter claim filed by a respondent in a application
filed by a Bank but are no bar to a civil Court to try and decide a
case filed independently by a borrower against a Bank. This in effect
that even as the DRTs are seized of a case against the borrower, the
borrower can bring independent suits in civil courts against a Bank on
grounds of breach of contracts, damages, and so on and so forth. Read
more using the following link :
http://www.bankdrt.com/nf/judgements/describe.php?id=D1020060418

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