Sh. L. Madhushudhan Rao v. Bank Of India And ORS.

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 13563/2019 L. MADHUSHUDHAN RAO ..... Petitioner Through:

Mr Gopal Jain, Senior Advocate with Mr Sunil Malhotra, Mr Aditya Malhotra, Mr Uday Arora and Ms Veera Mehra and Mr Vivek Kumar Karan, Advocates.

versus BANK OF INDIA AND ORS. ..... Respondents Through:

Mr K.C. Aggarwal and Mr V.N.

Aggarwal, Advocates.

CORAM:

JUSTICE S.MURALIDHAR JUSTICE TALWANT SINGH

O R D E R

% 20.12.2019 CM 54886/2019 (exemption) 1.Allowed, subject to all just exceptions.

W.P.(C) 13563/2019 & CM 54885/2019 (stay)

2. Mr. Gopal Jain, learned Senior Counsel for the Petitioner, states that this matter stands covered in favour of the Petitioner by the judgments of this Court the judgment dated 8th March 2017 of this Court in W.P.(C) 10765/2015 (ICICI Bank Ltd v. Kapil Puri) as well as the subsequent judgment dated 1st November, 2019 of this Court in W.P.(C) No.11581/2019 (L Madhusudhan Rao v. ICICI Bank Ltd.) both of which hold that it is not within the powers of the Debt Recovery Tribunal ('DRT'), or for that matter Debt Recovery Appellate Tribunal ('DRAT'), to exercise powers under the RDDBFI Act 1993, to enforce any clause in the Deed of Guarantee,

executed by the Petitioner in favour of the Bank. 3.The challenge in this petition to an order of the Debt Recovery Tribunal ('DRT'), against which there is a statutory remedy provided under the RDDBFI Act, 1993 of an appeal before the Debt Recovery Appellate Tribunal ('DRAT').

4. In that view of the matter, learned Senior counsel for the Petitioner, on instructions, seeks leave to withdraw the present petition with liberty to approach the DRT or DRAT as the case may be, in accordance with law, with a request for expeditious disposal.

5. The petition is dismissed as withdrawn with liberty prayed for. The pending application is also disposed of.

S.MURALIDHAR, J TALWANT SINGH, J DECEMBER 20, 2019 rd