D.C.B. Bank Ltd. v. Hdfc Bank Limited and Ors.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No.460/2019 Arising out of S.A.No.182/2019 (DRT-I, Delhi)
D.C.B. Bank Ltd. Vs
HDFC Bank Ltd. & Ors.
13.07.2022 Hon’ble Mr. Justice BrijeshSethi
Present: Mr. Hashmat Nabi, Ld. counsel for appellant bank
Ms. Gurmeet Bindra and Ms. Amita Kumari, Ld. counsel for respondent no.1 bank
This matter has been taken up by me through Video Conferencing.
Learned counsel for the appellant states pursuant to the statement given by the counsel for the respondent, the learned DRT had dismissed the S.A. vide order dated 13.09.2019, but, the same was restored by the learned DRT vide its order dated 23.10.2019. Learned counsel for the appellant states that the same could not have been done by the learned DRT in view of the fact that after disposing of the matter, the DRT had become functus officio. It is further submitted by Ld. Counsel for the appellant that as per Section 11 of the SARFAESI Act and subsequent judgment of the Hon’ble Punjab and Haryana High Court, the only remedy available to resolve the disputes between the banks/financial institutions is to resort arbitration.
Parties & counsel
- appellant
D.C.B. Bank Ltd.
- respondent
HDFC Bank Ltd.
Coram
Brijesh Sethi
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