NDLI: Standard Chartered Bank Vs. Mstc Limited

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Recovery of Debts and Bankruptcy Act
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993)
Case(s) Referred	Referred Case 0 Referred Case 1
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Allowed
Headnote	Recovery of Debts and Bankruptcy Act, 1993 – ss. 19, 20, 21 and 22 – Debts Recovery Tribunal (Procedure) Rules, 1993 – r.5A – Application for review – Appellant-Bank filed an application u/s. 19 of the RDB Act for recovery of a sum of Rs.191,03,54,070.96/- – An I.A. was filed by the appellant stating that given the admissions contained in the balance of the relevant years of the respondent- Company, a sum of Rs. 222,51,00,000/- was owed by the respondent – The said I.A. was allowed by DRT – The respondent filed an appeal against the said order before the DRAT – While pending appeal, a review application was filed by the respondent before the DRT – Thereafter, the appeal filed earlier was withdrawn – Meanwhile, an application was filed to condone a delay of 28 days in filing the review petition before the DRT – Application was dismissed by the DRT – Writ Petition – The High Court held that no appeal would be maintainable against the dismissal of the review petition and that therefore, a writ petition would be maintainable – The High Court also held that application u/s. 19 of the RDB Act would subsume an application for review as a review application would originate from an order passed u/s.19 , as per procedure prescribed u/s. 22 of the RDB Act, and would therefore not be an application which could be said to be independent of s. 19 of the Act – This being the case, the High Court condoned the delay and set aside the judgment of the DRT – On appeal, held: The judgment of the Supreme Court in International Asset Reconstruction Company of India Limited makes it plain, though in a slightly different context, that only application that is referred to by s. 24 of the RDB Act is an application filed u/ s. 19 and no other – This being the case, an application for review, not being an application u/s. 19, but an application u/s. 22 (2) (e) r/w. r. 5A of the Rules, this judgment would apply on all fours to exclude applications which are review applications from the purview of s. 24 of the RDB Act – The High Court also wrongly applied Or. XLVII, r. 7 of the CPC – S. 22 (1) of the RDB Act makes it clear that the Tribunal and the Appellate Tribunal shall not be bound by the procedure laid down by the Code of Civil Procedure, making it clear that Or. XLVII, r. 7 would not apply to the Tribunal – Further, s. 20 applies to all applications that may be made, including applications for review and orders being made therein subject to appeal – Also, s. 34 of the Act makes it clear that 1993 Act, will have overriding effect over any other law for the time being in force, which includes the Code of Civil Procedure – The High Court was clearly in error in holding that no appeal would be maintainable against the dismissal of the review petition and that a writ petition would be maintainable – Therefore, the judgment of the High Court cannot be sustained and is set aside.
Judge	Hon'ble Mr. Justice R.F. Nariman
Neutral Citation	2020 INSC 72
Petitioner	Standard Chartered Bank
Respondent	Mstc Limited
SCR	[2020] 2 S.C.R. 444
Judgement Date	2020-01-21
Case Number	501

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