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IN THE SUPREME COURT OF INDIA

CIVIL  APPELLATE JURISDICTION  

CIVIL APPEAL NOS.2074-2078  OF  2011 (Arising out of SLP(C) Nos.26451-26455/2010)

PERSN MEDICINAL PLANTS PVT. LTD. & ANR.     Appellant(s)

                    :VERSUS:

INDIAN BANK AND ORS.            Respondent(s)

O R D E R

Leave granted.

We  have  heard  the  learned  counsel  for  the  

parties.  

These appeals  emanate from  the judgment  and  

orders dated 16th June, 2010 passed by the High Court  

of  Judicature  at  Madras  in  Writ  Petition  

No.17016/2009 and Civil Revision No.2467 of 2009 and  

M.P. Nos.1 & 2 of 2009 in Civil Revision No.2467 of  

2009  by which, while allowing the writ petition and  

the civil revision petition, the High Court has  set  

aside  the  order  passed  by  the  Debts  Recovery  

Appellate Tribunal (“DRAT”).

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Our attention has been drawn to a letter dated  

13.12.2010 sent by the Chief Manager, Indian Bank,  

to  the  Director  of  the  appellant  Company,  the  

relevant portion of which reads as under:

“As regards the liabilities, we wish to  

state  that  the  amount  due  as  on  

30.11.2010  is  Rs.3467.89  Lakhs  after  

appropriation of a sum of Rs.410.00 lakhs  

collected  after  filing  of  suit  and  

Rs.5525.00 lakhs being the sale proceeds  

of property said above.”       (Page 226)

Learned Solicitor General submits that if the  

Bank is allowed to appropriate this amount, then he  

has  no  objection  to  the  appeal  of  the  appellant  

being heard on merit by the DRAT.  We direct that  

the Indian Bank would be at liberty to appropriate  

the amount which is already with the Bank, however,  

this would be subject to the final decision of the  

appeal by the DRAT.

In the facts and circumstances of this case,  

we direct the DRAT to hear and dispose of the appeal

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on  all  questions  of  law,  as  expeditiously  as  

possible, in any event, within two months from the  

date of the communication of this order.      

These  appeals  are  accordingly  disposed  of,  

leaving  the  parties  to  bear  their  own  respective  

costs.   

.....................J (DALVEER BHANDARI)

.....................J (DEEPAK VERMA)

New Delhi; February 25, 2011.