BANK OF INDIA vs M/S. KRISHNA TEA TRADERS AND ORS. on 31 December 2020

**BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT : MUMBAI**

**Present : Mr. Justice S. Ravi Kumar, Chairperson**

**M.A. No.158/2020**

**In**

**Appeal No.21/2020**

**Between**

Bank of India ... Applicant/s

V/s.

M/s. Krishna Tea Traders & Ors. ... Respondent/s This Misc. Application coming up for hearing before me in the presence of Mr. C. P. Ravindranath Menon, Advocate for Applicant Bank. None appeared on behalf of Respondents.

**-: Order dated : 31/12/2020 :-**

Heard Advocate for Applicant Bank through Video Conference.

2. This application is filed seeking stay of operation of order dated 28.10.2020 passed by Ld. P.O., D.R.T. No.I, Ahmedabad, in O.A. No. 520 of 2014, wherein Applicant was directed to pay costs of Rs.5 Lacs and further directed that copy of order shall be forwarded to the Joint Secretary, Ministry of Finance; Deputy Governor, Reserve Bank of India; Chairman, Indian Bankers' Association and Central Vigilance Commissioner.

3. Advocate for Applicant submitted that the Bank under One Time Settlement received money from the borrower and closed the loan account and then sought for withdrawal of the O.A., but DRT

has not accorded permission for withdrawal and gave a finding that acknowledgment document is a forged one without sending that document to any Forensic Expert.

4. It is further submitted that borrower has not disputed execution of the acknowledgement and the Bank Officer in her Affidavit stated the circumstances under which that document came into existence, but the Ld. Presiding Officer without accepting her Affidavit imposed costs of Rs.5 Lacs and further directed to forward a copy of the order to the Joint Secretary, Ministry of Finance; Deputy Governor, Reserve Bank of India; Chairman, Indian Bankers' Association and Central Vigilance Commissioner.

5. It is submitted that bank is willing to contribute to the National Defense Fund, but is not willing to pay it as costs. It is submitted that there is no fault on the part of the Bank, therefore, the findings recorded by Tribunal below are exfacie incorrect particularly when Tribunal accepted the compromise between appellant and borrower.

6. Considering the submissions of the Advocate for Applicant and the reasons stated in the application, there shall stay of operation of order dated 28/10/2020 pending disposal of the appeal.

*S. N...* Chairperson

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